Hi i am confused by the beneficial interest term.EG, I am currently living in Florida,my house has an equity of about £15,000,if i go br in uk can my wife buy the ben int for this amount to prevent it being sold.
Hi mark.t and welcome to the forum. I'm not clear as to where your property is. You live in Florida but is the property to which you refer there or in the UK?
In any event, if the equity is £15000 and the house belongs to you both then your BI is £7500 which can be purchased by your wife for that amount. This is presuming that you meet the criteria which enables you to petition for your own bankruptcy in the UK first.
confused by the beneficial interest term
Posted - 16 July 2008 : 17:44:51
