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Clare.wk
Starting Member
1 Posts |
 Posted - 13 July 2011 : 15:18:36
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My partner is bankrupt as july last year, the trustees are asking for me to buy his share of the equity in the property we own.
I have discussed this with them and we have come a financial settlement. I am struggling to find the funds for this, but hopefully I will. Once I have paid the trustees for the my partners equity, the mortgage is still in joint names, will this be a problem in the future if anything goes wrong, I am asking would the house be a t risk again if his name stays on the mortgage, if there were financial difficulties in the future even though I have bought his half, and could the trustees ever demand equity again on his behalf. |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 13 July 2011 : 16:39:35
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Hi Clare,
Once you have bought back the interest, then no, the OR can not come after any further equity.
You are financially associated to your partner so it may be difficult to get any lending, it definitely will for your partner until it drops off his file 6 years after his bankruptcy.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
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Buying partners share of the equity in our property
