my parents want to buy me a small property

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thundeera

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Post by thundeera » Tue Nov 20, 2007 4:00 pm
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Hi
I am in an IVA and my parents want to buy me a small property in France, looking toward my future retirement.
Is this a problem and would I be able to open a French bank account?
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Oliver

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Post by Oliver » Tue Nov 20, 2007 4:13 pm
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Take advice from your IP about this but I would reccomend that this not be done prior to the expiry of your IVA as this may be deemed a windfall.

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Oliver

Thomas Charles and Co Ltd.
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Oliver
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Adam Davies

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Post by Adam Davies » Tue Nov 20, 2007 4:14 pm
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Hi
It could be seen as an after acquired asset and fall into your IVA.You will need to take specific legal advise on this one,it may be that ownership only transfers to you after the IVA is finished.
Regards

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
Andam Davies
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iva experts

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Post by iva experts » Tue Nov 20, 2007 4:17 pm
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As the other experts have mentioned, I think the best way forward is to contact your I.P and get there advice. Your parents may have to buy the property in their name and then transfer it over to your once your IVA is complete.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/
Best Regards,
Michelle Pontes
IVA Experts
http://www.iva-experts.co.uk/
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