Page 1 of 1
Posted: Wed Oct 03, 2007 12:25 pm
by phil.g
We have brought a house in Italy with my brother in law. If his company goes backrupt, can they force us to sell the house
Posted: Wed Oct 03, 2007 4:24 pm
by Adam Davies
Hi
It will depend if his business is a ltd company or not and if the house was purchased with funds from the business,i;e a business asset.
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
Posted: Wed Oct 03, 2007 4:37 pm
by phil.g
Thanks !
I will ask those questions and get back to you
Posted: Thu Oct 04, 2007 9:14 am
by phil.g
He did not get the money out of his business and his company is not limited
Posted: Thu Oct 04, 2007 11:39 am
by Adam Davies
Hi
Well if he goes bankrupt then his share of the house will belong to the official receiver as it will be deemed an asset,and yes he/she can force a sale
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