When you say there is more than £5k equity is his share (50%?) worth more than £5k? If not then the clause might not apply to him.
i.e joint equity would need to be more than £10k for it to apply.
Boo75! wrote:Yeah it's jointly owned, it would be 50%? Half his equity half mine? If that is how it works?
His IVA will (should) refer to his share of the equity, so, if there is less than £10,000 in total, his share ( his "interest") would be less than £5,000 and the equity clause will not be triggered.
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