Selling property before divorce & IVA

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by carol818 » Fri May 05, 2017 12:40 pm
Can you please advise my husband and i are separated he has large amounts of debt and is hoping to do iva we own our property and i want the property sold so as i can get on with my life but if he is doing the iva he says he cannot sell i am seeing a solicitor as i want the marriage ended can you advise what i can do please
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by Foggy » Fri May 05, 2017 1:34 pm
You doo need the advice of a solicitor here. From the debt perspective, you could refuse to co-operate regarding the property ( a restriction has to be placed on the title which you would have to agree to). However, if his debt problems are pressing, whereas an IVA would protect the house, his creditors could press for bankruptcy, which could well see the house being sold. Depending upon your own circumstances, you could buy his share from the OR -- but this does need personal, expert, advice.
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Lisa Thomas
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by Lisa Thomas » Fri May 05, 2017 2:03 pm
Simplest solution would appear to be to sell the property - then he uses his Share to do an IVA and you move on with your life and your share.

Take care however - with the divorce you need to ensure a formal agreement is reached as to the divorce settlement first.
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Michael Peoples
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by Michael Peoples » Fri May 05, 2017 2:09 pm
A restriction cannot be placed against the property unless you sign it too so get legal advice. I agree with the others that a sale seems the best way forward.
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