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T O P I C R E V I E W
Debs1969
Posted - 18 July 2011 : 11:01:56 Morning
My mum and I own our property jointly and are making ourselves bankrupt tomorrow. We have had valuations done which show that there will be at most equity of around £2000 and possibly negative equity. Given this fact, is it still possible to purchase our interest back from the OR for £1.
Thanks for your help.
3 L A T E S T R E P L I E S (Newest First)
glafy
Posted - 18 July 2011 : 20:48:26 Hi,
Just to let you know that we made an offer to the OR to buy back the beneficial interest 7 months into BR & it was accepted...No where near £1 though!!!!!!!!!!
"Good things come to those who wait".....I'm a patient person but this is taking the Mickey!!
Viki.W
Posted - 18 July 2011 : 17:02:42 Hi Debs,
As Jan has said, you can't buy back the beneficial interest for £1 anymore. They will value your home again in 2 years and 3 months, and deal with it at that point.
