Any advice greatly appreciated about the equity outcome of selling property.

[Ste52]

Hi all. Im currently 14 months into an IVA. I owe 38,000 in total. Unfortunately, my wife and I will be splitting up very soon. The property has been valued and will go on the market sortly. Am I right in assuming that 50% of the equity cannot be touched as this is my wifes(the IVA is in my name alone). I also understand that of my 50% I will get 15% with 85% going into the IVA. I foresee my equity being around the £10,000-£20,000 mark depending on the sale price.but my wife also wants the £20,000 deposit she put in. Any advice would be greatly appreciated.

[Shining]

Hi, I'm not sure on this but will bump it up for others to comment. Your IP is best placed to give you that all important case specific advice.

[luluj]

I personally think it best you discuss this with your own IP as they will have specific case advice and may need to work with any solicitors involved to get this done for you so both parties receive what they should. Good luck in sorting this all out ..let us know how you get on.

[Michael Peoples]

This should have been addressed at the time of the IVA and if your wife paid the deposit she is entitled to look for it back.