What happens to the equity if a house is sold due to the death of one of the applicants ?

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Steve.sp

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Post by Steve.sp » Mon Sep 01, 2014 10:39 pm
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if during an IVA you want to sell the property because of the death of one of the applicants makes the repayments impossible, is this allowed and how would the equity from the sale be used?
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Michael Peoples

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Post by Michael Peoples » Tue Sep 02, 2014 8:59 am
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Surely there would be life cover in place so the mortgage would be redeemed on death? If this is a question about an actual case could you please post more details.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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Adam Davies

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Post by Adam Davies » Tue Sep 02, 2014 9:47 am
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Hi

Creditors may still have a claim on the assets of the deceased so take advice from your Insolvency Practitioner

Regards
Andam Davies
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