if we were to reconcile in the future

[becca8]

My husband and I separated in June 2006, he is looking into filing for bankrupsy and I was wondering how this would/could affect me.
We married 26/07/03 and he went on my mortagage in 2004 - at the time we took out a deed of trust with him 'owning' 2% of the property, the remaining 98% in my name - it was bought etc by me in 2001 and he put no money into the property apart from through household account etc. The property went back to my sole name - motgage and deeds in August 2006. We both signed a separation agreement in July 2006 stating we have no claim on eachothers income/property and that individual debts (bothparties) are the sole responsibility of the debt holder.
PLease could you advise me as to whether any claim could be made on my property as we are not divorced.

In addition to this, if we were to reconcile in the future, would this impact on a) his bankruptsy b) the status on my home ( he would, in effect live in my home as a tenant and would have a deed of trust instated again)

Many thanks for your help and advice.

[MelanieGiles]

Hi becca and welcome to the forum

I doubt whether a claim could be made over your property, given the circumstances you have described, but best to take proper legal advice on this point if the eventual Trustee does seek to make any claim.

Reconciliation will have little affect - but do make sure you get him to sign an agreement confirming that he has no claim to your property.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[fewchprod]

Hi Melanie. I'm Becca's separated partner and may i take the time to elaborate a little..

When we got married, we took out a deed of trust stating that i owned 2% of the property (which actually equates to £1500), with the remaining 98% in her name.

When we separated in 2006, the property went back in her name. We signed a seperation agreement stating we both have no claim to each others income/property. She paid me the 2% (1,500) when I left the house, to help me find accomodation etc.

I have spoken to other people on other forums and the general concensous is that as I only owned 2% (£1,500) the OR would not consider this to be a big enough asset. in your experience, would this sound correct?

many thanks
fewch

[MelanieGiles]

Yes - I think that is what I was saying in my original post - but perhaps did not explain it clearly enough.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[fewchprod]

Thank you so much Melanie, you have helped me make a decision and I think I shall keep the forum updated with my progress. Many thanks. Craig

[fewchprod]

Hi all. An update.

Well, I have seen the CAB, called National Debt helpline and looked at various forums. Guess what? All differing answers ranging from, 'NO they wont even consider your ex wife's property' to a 'yes they definately will' - so I am in a bit of limbo really.

I am seeing one more advisor on 10th Sept before making my decision. It is becoming scary now as my creditors are starting to call me every damn day.

I really dont want this affecting my ex's property (I find it strange that the OR could anyway as it was only 2% mine)

Anyway, rant/worry over....onwards to the 10th.