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Tennants in common, one bankrupt

nodebtgirl
nodebtgirl Posts: 4 Newbie
in Bankruptcy & living with it
Can anyone advise on a theoretical question? I am a tenant in common with ex husband. I still live in the property. Less than £15,000 equity left in it as it has plunged £20,000 in value since we cought it.

If he were to go bankrupt, as he is badly in debt, would I be forced to sell the house for creditors to get his equity does anyone know?

Comments

  • debtinfo
    debtinfo Posts: 7,012 Forumite
    eventually you might, they will want to release his equity and 3 years to do so. they will usually offer it to you first, but if you cannot buy it and the his equity rises to £10,000 or more within the 3 years they may force a sale
    Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
    Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.
  • nodebtgirl
    nodebtgirl Posts: 4 Newbie
    Heck, still have my daughter living with me. Mind you she will be 18 in three years so not so bad.
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