Scottish bankruptcy help

IN_LIKE_EVERYONE_ELSE!

Here's one for ya'

Declared bankrupt in Scotland October last year

Bankrupts name only on the deeds

O.R. claiming the house

Is the wife of 6 years entitled to half the equity?

Does anyone know a good solicitor in Scotland?

Harassed_2

Is the wife of 6 years entitled to half the equity?

Wife of 10 minutes is entitled to half the equity.

Conor_3

Harassed wrote:

Wife of 10 minutes is entitled to half the equity.

Only if the house is in joint ownership AFAIR.

Xbigman

Conor wrote:

Only if the house is in joint ownership AFAIR.

Wouldn't she need to divorce him first to claim this?
Regards




X

Conor_3

Usually if you buy a house as a couple, the mortgage company want it in both names.
YMMV though.

Verbatim

In England a wifwe can register an interest in the property, precisely to stop the roof being sold over her head due to husbands bad debts. Presumably the same thing applies these days to husbands but I have no idea if you can do this in Scotland. Try the CAB in Scotland, Citizens Advice Scotland, you can find them through the link at the top of the page, then click get Advice in the strip to the left of the screen then a link to CAS.

IN_LIKE_EVERYONE_ELSE!

Cheers Verbatim, I reckon we need to appoint a solicitor and tell them exactly what we want them to do.

livilou

i can only say what has happened to me and obviously don't know if this differs in scotland but

my hubby has bankrupt last feb - infact bankruptcy ends today.......... his name only on deeds but both on mortgage. there is little equity in the house so it isn't worth selling but basically I have written to the insovlency people claiming my interest in house, fact that I have always contributed etc, been together 11 years. it is going to cost me more to have the house transferred to me. They are going to write with a figure to me but basically the chap we spoke to said I can then make an offer and it will probably be accepted, but there really is very little equity. I had to get 3 valuations on the house and then they average them out to see what the house is worth and then look at what is left on the mortgage and the difference gives you the equity.

Your wife should write to the OR stating her interest in the house. Also have a look on the insolvency website, it should give you the information you need for scotland

x

livilou

just thought - I recently sent for a leaflet from The Bankruptcy Advisory Service - there is a website. may be worth a look.
x

IN_LIKE_EVERYONE_ELSE!

Ta, keep em coming !