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m15

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Post by m15 » Thu May 28, 2009 8:44 pm
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my friend ex husband has gone bankrupt and he lives in their home he has told her that her half of the house will be fine the house is not being repossed as he is up to date with payments . he said he has been told he has a year to sale the house. is this correct.
thanks
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Julie

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Post by Julie » Thu May 28, 2009 9:15 pm
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Hi - Do you know if there's equity in the property? If there is, thats why the OR may have granted a year to sell the house. His share of any profits would go into his BR
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plasticdaft

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Post by plasticdaft » Thu May 28, 2009 10:09 pm
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Can the OR force the sale of the home if one partner only owns half of it? What if the non BR partner doesnt want to sell up??
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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Julie

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Post by Julie » Thu May 28, 2009 10:12 pm
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I believe the other party would have the option to buy out the BR's share. Thats what I would have done if there had been any equity in our home.

I don't know if the OR can force the sale, but I imagine so.
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MelanieGiles

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Post by MelanieGiles » Fri May 29, 2009 12:47 am
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Your friend has recieved some basic advice, but it would probably be better if she got a solicior involved just to reassure her.
Regards, Melanie Giles, Insolvency Practitioner
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