| T O P I C R E V I E W |
| pjm |
Posted - 24 January 2009 : 09:59:11
Hi
I was wondering if anyone could advise on this form sent by the land regisrty.
I went bankrupt 14th Nov 2008.
Today we have recieved my wife & I this notice. I think i have read on here before these are standard forms sent out by the OR.
However we do have to sign them & send back to Land Registry.
When i went bankrupt i advised the OR we had a decalration of trust signed showing 90% of the equity in our house was my wifes 10% mine.
Due to this present climate i am unsure we would get back what we paid for it 18 months ago. We purchased the house for £450,000 & put £100,000 deposit down.
This was to protect my wife as when we purchased the house she used the equity in her old house for deposit, i did not put any money into this house we live in. Just need some advice please.
Thank you in advance
Regards
Paul |
| 8 L A T E S T R E P L I E S (Newest First) |
| JulianDonnelly |
Posted - 25 January 2009 : 15:00:08
Great advice as usual Paul.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
| movin on |
Posted - 24 January 2009 : 20:35:45
Once again thank you Paul....I dont know where i would be without this forum and its experts....its my lifeline.
Onwards and Upwards is the way im going :-0)
From "Moneyworries" to "Movin On" in 3 months is fantastic :-))
xx |
| Reviva UK |
Posted - 24 January 2009 : 19:08:38
Hi
the notice at land registru means that the house cannot be sold or refinanced without the OR being told.
Once the BI is sorted then the notice is lifted as the OR has no further interest in the property.
PJM
If the property is in negative equity any you want to buy the BI it can be done for £212 including legals.
Hubby will still be on the mortgage but you would have purchased the equity for a notional value of £1.
If there is equity then the OR would want the bankrupt p[arties share.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com |
| pjm |
Posted - 24 January 2009 : 19:00:19
Hi
When the OR is happy with the outcome i take it they lift the notice with Land registry. My business partner called me today as he had the same notice applied. He asked me to ask the forum his mortgage comes up for renewal in June, what happens in his case. Bearing in mind they do not have a declaration of trust however they are in negative equity. |
| movin on |
Posted - 24 January 2009 : 17:47:12
Thank you very much Paul
Just one more if you dont mind  ......Will hubby buying the bi override this notice at land registry ?
Jenny
Onwards and Upwards is the way im going :-0)
From "Moneyworries" to "Movin On" in 3 months is fantastic :-))
xx |
| Reviva UK |
Posted - 24 January 2009 : 16:24:45
The onsolvency service do a great job but the flow of work is deffinately up and I suspect they are struggling to cope with it.
It is extremely rare that they miss anything so I would recommend you sit tight and wait for them to act
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com |
| movin on |
Posted - 24 January 2009 : 16:21:35
Sorry to butt in here
I went br in October (hubby did not), but i still have not received a letter/form to sign and send off the the Land Registry - do you think there could possible be a problem?
Hubby has just offered to buy the bi in the house and apart from that there are no other assets to deal with.
Jenny
Onwards and Upwards is the way im going :-0)
From "Moneyworries" to "Movin On" in 3 months is fantastic :-))
xx |
| Reviva UK |
Posted - 24 January 2009 : 12:23:05
Hi
the forms are as you susect standard so sign and return.
The official receiver will however no doubt revuew your deed of trust VERY CAREFULLY to make sure that it is all above board. It is worth you getting all the documentation ready for this conversation.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com |
