hi,our home was purchased by my husband before our marriage and he has always paid mortage himself in full.we have no joint finances,so in bancrupcty-mine- am i right in thinking the house will not be included as an asset.
Depending upon how long you have been married Sue, and what share of the income you bring into the household, a subsequent Trustee in bankruptcy might deem you to have developed a beneficial interest in the property - the calculations are worked out in a similar fashion to the share you might be awarded under divorce proceedings.
Best to take specialist legal advice before petitioning just to be sure of where you stand. How long have you been married as a matter of interest, do you both work and if so what are your respective salaries.
thanks melanie,married 6 years, i earn 900 husband 2000 a month.for last year or 2 since his earnings increased he has paid for nearly everything while i have just been paying my debts,but never getting anywhere.
It is possible that you may have developed some form of interest in the property, but this may be difficult to prove if you can demonstrate that your income has largely been taken up with debt repayments.
