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 my husbands name is on deeds of parents house		  New Topic  Reply to Topic
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gill.1
Starting Member



4 Posts
Posted - 22 July 2010 :  17:18:50  Show Profile  Visit gill.1's Homepage  Reply with Quote
my husbands name is on the deeds of his parents house what would happen if we were to go bancrupt our debt is about 90.000

debtinfo
forum expert



2826 Posts
Posted - 22 July 2010 :  17:27:14  Show Profile  Reply with Quote
What is the position in the house i.e does it have any equity and why is he on the deeds, did he help with a deposit etc
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gill.1
Starting Member



4 Posts
Posted - 23 July 2010 :  18:37:28  Show Profile  Visit gill.1's Homepage  Reply with Quote
quote:
Originally posted by debtinfo

What is the position in the house i.e does it have any equity and why is he on the deeds, did he help with a deposit etc

yes he helped with a deposit
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debtinfo
forum expert



2826 Posts
Posted - 24 July 2010 :  06:13:05  Show Profile  Reply with Quote
how long ago and how much, also what proportion
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gill.1
Starting Member



4 Posts
Posted - 26 July 2010 :  16:41:57  Show Profile  Visit gill.1's Homepage  Reply with Quote
quote:
Originally posted by debtinfo

how long ago and how much, also what proportion
10 years ago and approx one third
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debtinfo
forum expert



2826 Posts
Posted - 26 July 2010 :  16:52:12  Show Profile  Reply with Quote
Then it is likely that he may have an interest in the property. Is there any equity at the moment
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gill.1
Starting Member



4 Posts
Posted - 26 July 2010 :  16:56:15  Show Profile  Visit gill.1's Homepage  Reply with Quote
quote:
Originally posted by debtinfo

Then it is likely that he may have an interest in the property. Is there any equity at the moment
yes 150.000
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debtinfo
forum expert



2826 Posts
Posted - 26 July 2010 :  18:31:18  Show Profile  Reply with Quote
Then the OR will assume that if there are 3 names n the property that your husbands bankruptcy is entitled to 1/3 of that equity. It is down to him to prove otherwise. It is unlikely that he can show that he has no interest (how much was his share of the deposit) but he mab be able to show that it is less than 1/3 if he has made no other contributions over the last 10 years
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