I'm 4 yrs into my I've & I'm sure I didn't sign RX1

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Raj.21

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Post by Raj.21 » Tue Apr 21, 2015 5:55 am
I'm 4 yrs into my I've & I'm sure I didn't sign no rx1 so there's no restriction on my house if I wanted to sell?
 
 

Foggy

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Post by Foggy » Tue Apr 21, 2015 7:48 am
There may be no RX1 on the title deeds, but if you do sell and don't involve your IP your IVA could be failed as the house will be an asset subject to the IVA.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Lisa Thomas

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Post by Lisa Thomas » Tue Apr 21, 2015 9:37 am
Hi Raj - Foggy is right - not all IPs ask for an RX1 as the IVA will fail if you don't stick to the conditions. If you want to sell however, you could speak to your IP about it and possibly chuck some extra money from the proceeds into the IVA in final settlement. Of course this depends on your circumstances, how much equity there is, what other assets you are putting into the IVA etc.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

mole

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Post by mole » Tue Apr 21, 2015 6:31 pm
As long as you have not sold your house, there should not be any issue.
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