can a partner be held in any way responsible

[gary4]

if i take out an IVA and live with a partner who is not linked in any way to my problems can they be held in any way responsible ie could they be made to sell their home? If we were to marry is that any different?

[MelanieGiles]

Hi gary and welcome to the forum

It is unlikely that your partner's property would be affected by your IVA even if you then decided to marry.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[loopyloo]

My boyfreinds ex partner is currently going through the IVA process, she is still on the mortgage as he was unable to get it changed to just his name until 2008. She is now saying that her IVA company is going to make them sell the house as it is an asset in her name although he bought her out and she hasnt contributed to the mortgage for over 2 years.

Is this possible?

[Adam Davies]

Hi
It is possible that the IP supervising your partners x will want them to release equity in the property,and it is possible that your partners x still has an interest in the property[equity] but this is normally done by way of a remortgage and not sale.Your partners x will more than likely just have to extend their IVA for another year instead of an equity release,but your partner will have to take advice on this matter.
Release

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[MelanieGiles]

If he bought out her interest and this can be proven, based upon a current market valuation at that time, it is unlikely that she has retained any beneficial interest in the property, but legal advice or action may be necessary to defend his position.

Was the transaction done properly at the time through a solicitor?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[mish1953]

If your partner bought out his x - it shold have been done thru a solicitor and her name removed from the deeds - been there - done that.

That makes it all legal - if her name has not been removed it makes it a bit complicated .

Cheers
Mish