mum and dad split up last year. they have a joint mortgage. Dads been living with me rent free as he has no job since he lost his business. he signed the house over to mum on the deeds via solicitors 6 months ago. mum is now sole name on the deeds and as owner. she has a mortgage for the property which does have equity in it. Dad feels after 6 months of looking for a job to no avail and me supporting him and paying his debt payment plans his only option now is to go bankrupt. He has 45K unsecured personal debt. Mum is worried that if he goes bankrupt she will still lose the house as the dreditors may chase it despite the house no longer legally belonging to my dad. Is mum right to worry or is her house safe?
Is mum right to worry or is her house safe?
Posted - 13 May 2010 : 13:15:32
