Buying a vehicle for a bankrupt partner

£Wise

I'm buying a vehicle for my partner who is about to apply for bankruptcy.

The vehicle will be in her name for insurance purposes, but I will be paying for it and will want it back after a period of time.

Will her applying for bankruptcy mean any of her debtors would have any claim to the vehicle?

Thanks.

stintond

if it is worth less than 500 then they probably will let her keep it otherwise the OR will want it unless she can prove she needs it for work for example , and public transport is not available.In any case if it was expensive she would be told to sell it and get a cheaper car,

fermi

Neither the OR or any of her creditors will have a claim on the vehicle.

The person named as the "registered keeper" is not necessarily the owner.

If you pay for the car the YOU will be the legal owner, and as such the car cannot be touched.

But the Official Receiver is likely to require proof that you bought and paid for the vehicle. If you keep the paperwork then that shouldn't be a problem.

stintond wrote: »

if it is worth less than 500 then they probably will let her keep it otherwise the OR will want it unless she can prove she needs it for work for example , and public transport is not available.In any case if it was expensive she would be told to sell it and get a cheaper car,

Not true. As long as £Wise keeps the purchase paperwork to prove that the bought and own the vehicle, then it should be safe.

fiveyearplan

Be sure you buy the vehicle yourself and the money clearly comes out of your personal bank account ie don't give partner the money to buy the car. I'd make sure the transaction clearly shows you are the purchaser and get a receipt with your name on it.

£Wise

Thanks for the info all.

Cheers.