| T O P I C R E V I E W |
| shaunwills |
Posted - 16 March 2009 : 19:40:55
MY home is in my wifes name and I wondered if I go br will the courts still class this as my asset even though I am not on the deeds. |
| 7 L A T E S T R E P L I E S (Newest First) |
| John |
Posted - 16 March 2009 : 22:00:40
Hi
your welcome.
And as a matter of interest if the property were to gain equity the first £13,500 would belong, in law, to your wife by virtue of her paying the deposit.
Therefore if you do decide to declare bankruptcy the property will not be an issue.
John White
England Jackman & Spacey |
| shaunwills |
Posted - 16 March 2009 : 21:41:02
Thanks for that John. |
| John |
Posted - 16 March 2009 : 21:35:43
Hi
firstly the property is very likely to be in negative equity by now.
In that scenario it would a fruitless exercise for the OR to attempt to prove you have a legal interest as that legal interest, if proven, would have no value.
It would only suit the OR's purpose to attempt to prove an interest if that interest had a monetary value to be realised for the benefit of your creditor's.
John White
England Jackman & Spacey |
| shaunwills |
Posted - 16 March 2009 : 21:27:25
My wife paid the deposit,The £250 is for for everything food etc.
The property was £135000 and a 10% deposit was paid but the seller gave us a 5% cashback. |
| John |
Posted - 16 March 2009 : 21:18:39
Hi
if you have both been in the property for only 2 years who paid the deposit and is the £250 you contribute each week to include your food etc or do you buy that seperately?
Also how much was paid for the property and what deposit ws put down?
John White
England Jackman & Spacey |
| shaunwills |
Posted - 16 March 2009 : 19:58:23
The mortgage is 2 years old.I am self employed and contribute about £250.00 a week to the household bills(inc mortgage)Our mortgage is £780.00 per month |
| John |
Posted - 16 March 2009 : 19:46:18
Hi
it has little to do with your name being on the deeds or the mortgage but has everything to do with a legal interest.
Do you contribute to the mortgage payments, to what extent, how long for??? etc etc etc
John White
England Jackman & Spacey |
