Buying out my ex husband who is in an IVA

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Post by elaine129 » Sun Mar 01, 2020 9:20 pm
My exhusband has an IVA based on his 30% equity share in the family home and in the agreement the house was to be sold. Now I have decided I want to stay in our home, take over the mortgage and buy him out. He has agreed to this. He no longer lives here. How do I do it? Do I just phone up the supervisor and tell them what I’m doing?


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Post by Foggy » Mon Mar 02, 2020 7:59 am
Your ex should tell the supervisor --- they will not speak to you about his IVA. Your conveyancer will then liase with the supervisor as the restriction will need to be removed on completion of your purchase. Your conveyancer will undertake to send your husbands share (or an agreed part thereof) direct to the supervisor in return for their undertaking to remove the restriction.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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