I self decalred bancrupcy a few weeks ago. I had my OR interview and it became apparent that although my wife has always paid the mortgage and it is in her name, we did do a pre-nuptual agreement (agreed by a court) that I put in 17k at the start while she put in 100k and she took out a 280k mortgage in her name. So, my so called asset is 17k. the house is the same value as when we purchased it.
This might all sound odd but she wanted to protect her capital for the children as we got together after we were both divorced.
The question is, can the OR FORCE us to sell the house to get 17k?
I would not have thought that this would be the case provided you can provide documentation to show her contribution and the prenup - if you can do that you should be ok with the house. It is all down to being able to corroborate your statement
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles email me at melanienicholas@jonesgiles.co.uk
I would not have thought that this would be the case provided you can provide documentation to show her contribution and the prenup - if you can do that you should be ok with the house. It is all down to being able to corroborate your statement
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles email me at melanienicholas@jonesgiles.co.uk
Thanks for the reply Melanie,
Yes we have a court stamped prenum stating exactly that 100k was hers 280k was a mortgage taken by her and 17k was mine. However, I am still concerned that the 17k is seen as my asset and therefore now the receivers. I think one saving grace may be that the house was brought for £387 but £280+100+17k is £297 and a recent estate agent valued it at 387 still, so possibly some negative things going on.
If the OR does try and put an order on the house can my wife apeal as she is a substantial share holder in it?
Question re family home
Posted - 24 July 2009 : 13:30:27
