Do I have to release equity if property not in my name?

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jenny127

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Post by jenny127 » Mon Mar 26, 2018 7:25 am
I'm on a iva it is my 4th year it is only my dept but on the letter I just received it saying that my partner will have to try and remorgage the house 6months before the end of my iva, the house is not in my name can they make my partner remortgage?

Foggy

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Post by Foggy » Mon Mar 26, 2018 8:13 am
It depends on what was agreed in this respect when you started the IVA -- what does it say in your paperwork? But, normally, they should not have anything to do with the property if you are not on the title deeds or mortgage. Some IP's will try to claim that you have a beneficial interest, but this is impossible to establish and would need a court judgement to establish.
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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Lisa Thomas

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Post by Lisa Thomas » Mon Mar 26, 2018 8:46 am
That sounds very odd. WHat did your original proposals say? You can't force your partner to give up her assets, unless she agreed to it...
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

kallis3

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Post by kallis3 » Mon Mar 26, 2018 8:52 am
Speak to your IP and fight your corner!
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plasticdaft

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Post by plasticdaft » Mon Mar 26, 2018 9:41 am
Could this perhaps simply be a standard letter sent out in error?

Paul
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Continuing to rebuild our credit worthiness.
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