My partner and I have split up. He want's to go bankrupt and get rid of the house. I have an IVA and would like to keep the house. If I could affford the payments would it be possible for the house to be transferred to my name at no cost. the mortgage is in negative equity.
This is similar to me. My ex and I have split up and he has moved out. I want to keep the house which is in negative equity (I am paying mortgage on my own at the moment), and he is more than happy to sign his share over to me but..........the mortgage company have said that this can not be done. In order for it to be in my sole name, I would have to apply for the mortgage on my own and apparantly I dodnt earn enough for this!
Not sure about your case, whether you could buy his share for £1. Need an expert on this one methinks.
I'm sure you will be able to keep the house. When he declares bankruptcy his interest will vest in the OR. The OR will not be able to realise any equity as there is none. Therefore the bankrupts interest in the property can be sold to you for £1 + £211 in fees.
Once your ex's OR office and examiner have been appointed write to them saying you would like to buy his interest when they get around to dealing with that issue.
Would they still consider selling his share to me or someone else for 1.00 if I have an IVA?
Many thanks, this website is really helpful.
quote:Originally posted by John
Hi
I'm sure you will be able to keep the house. When he declares bankruptcy his interest will vest in the OR. The OR will not be able to realise any equity as there is none. Therefore the bankrupts interest in the property can be sold to you for £1 + £211 in fees.
Once your ex's OR office and examiner have been appointed write to them saying you would like to buy his interest when they get around to dealing with that issue.
My partner and I have split up.
Posted - 26 January 2009 : 20:01:29
