what happens if my ex defaults on IVA ?

[rachel s]

My ex partner is in an IVA. He has agreed to transfer the equity of the house to me. There is a secured loan on it as well and the creditor has agreed to the transfer. I understand the IVA supervisor must be contacted. Is it likely that they will give permission for the transfer? Should my ex default on the IVA after the transfer, would the IVA people be in their right to pursue me via the house?

[MelanieGiles]

Hi rachel and welcome to the forum

In my opinion it is quite unlikely that the IP will give permission to your husband transferring his interest in a jointly owned property to you, unless it is in negative or minimal equity. Was the property included in his IVA at all?

If your partner defaults on his IVA and ends up bankrupted, a subsequent Trustee may well pursue the transfer it is deemed it was at undervalue.