Hello and thanks for your help and advice.
My ex partner left our house we own jointly nearly 2 years ago and has not contributed financially since.
He entered an IVA last year and assured me the IVA excluded the property as there was no equite and he was able to prove that he was paying rent in his curent house and not a mortgage. Plus the lack of any equity. I have never heard from his IVA company or signed anything.
Anyway....I am in the process of remortgaging and removing his name from the mortgage. I have a copy of the land registry and there are no restrictions or charges other than the expected ones.
I was just nervous as I am near to completion and the solicitor mentioned they would just run a check on my ex to check he isn't bankrupt.
If he did not include the property in his IVA and there are no restrictions on the land registry will everything be ok for completion?
I know he is not bankrupt but I am guessing the IVA will come up. Or will it if it was never registered here?
Thanks in advance
As I understand it, he should have told his chosen IP of his mortgage and an RX10 will have been lodged with land registry and is removed when the IVA completes.
One of our experts will be able to advise further hopefully a little later, hang in there.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Not all IPs lodge restrictions/cautions against the property although it probably would have been recommended here given your ability to sell, which you have chosen to do.
If the property was definitely excluded from his IVA then it shouldn't be an issue.
However most standard clauses say that the equity will be revalued and revisited in year 5 of the IVA so this may come out in the wash in future.
Is there any equity in the property that he has a share in? If so you will need to reach an agreement with him to reimburse him for this equity - your lawyer will help you with that.
