www.iva.co.uk

hi just one quick question
i do not own my own home the home is in wifes name so am i correct in saying her home isafe 100 per cent if i did an iva?

Hi and welcome to the forum.

If the house is your wifes then it will be perfectly safe.

you will need to take independent advice, as you are married and a lot will depend on how long you have lived in the home, whether your wife works etc etc, creditors could argue that you have contributed towards the mortgage therefore there may be an equity claim.

Speak to a few companies about your own personal circumstances to get case specific advice

The property should be fine unless it was recently transferred into your wife's name to avoid your creditors. This does not sound the case so you probably have little to be concerned about.

appreciating it is a bit of a generalisation-if a property is 'transferred-and i am thinking of a rental property as opposed to main residence-what is the general timescale, that would be looked at unfavourably.
For example-for genuine reasons-my husband dos all the work-but not on the deeds-we transferred a rental property into joint ownership last september-would the IP now class that as a 'fair' transfer,and that i now only have claim to 505 of the property

new to forum-can't find edit tag.above should say 50%.
we transferred it genuinely to split any future cap gains tax liability-obviously things have gone a bit backwards for us since-but principle of the question remains the same

I would think September is relatively recent to be honest, I would think they would probably be looking at a few years really, but I am no expert!.

Nothing is ever "safe" until you have creditor agreement to your offer. An IP will look at the timing of all transactions and any financial contribution you have made the household, in order to be able to advise you. If you have transferred assets to your wife, you will need to demonstrate that you were not insolvent when the transaction took place.