HARD question!!!!

debtinfo

First of all it matters not that you are discharged, the asset will stay in the bankruptcy estate forevermore until dealt with in some way. When the OR says they are finished with their investigation it means the investigation into your conduct not that they have dealt with all assets. If your OH is not bankrupt the OR could ask for half the rental income less any costs of being a landlord but not the mortgage (ie boiler repairs, service charge etc). You could buy the interest back but the legal fees would be more and although the equity would be £1 it is anyones gues at what the value of the ongoing tennacy would be. As with all things this is what i know from friends to be the correct technical position but there seems to be much variation accross the country as this is a relativly new situation. The OR is under no compulsion to offer it back to you (as opposed to the family home) so in theory if someone else gave a better offer it could be accepted.

JPS29

Appreciated debtinfo.

I suppose I'll just have to wait and see how they play it.

Will keep everyone posted.

Thanks again,, and good luck Darnit, hope all goes well for you

debtinfo

Although this seems harsh it is because it is basicaly viewed as a business so the same rules apply. Imagine if you will a person with 50 properties that goes bankrupt and because of the economic climate buys them all back for £1 each. He could then instantly have his business back again bringing in a good income even if he only makes £50pm from each rental. He then also has the safety net that if one of his properties cant get a rental for many months, because it was in the bankruptcy he can just let it be repossessed and not be liable for the shortfall

peachyprice

Thanks DI, this is the exact point I was trying to get across in post #5 as the reason behind the tightening up of all these rules since the drop in property prices.