Complcated Issue - Urgent Help needed

dizzydeb

Thanks for the comment.
To Mike...minefield is the tip of the iceberg im afraid.
To im1dful...yes I was working at the time and fully contributing to household expenses.
There is also the issue of equitable accounting at play here too....my husband left the home 2 years ago in a dire mess...almost unhabitable. It is through my efforts alone (with the help of a fantastic mother) that the value of the house is where it is today....I requesting that "credit" be given for that in the BI value calculation.
There is case law that indicates whilst legal title may be 50/50 that does not mean that the share of the BI is 50/50.

Whilst I am paying for my lawyer and this may be a stupid question...anyone know if this kind thing is covered on legal aid??

livilou

hi there, sorry to jump into your thread, but this is an area close to my heart and until now have not been able to find anyone who can offer advice on this isse, baiscally I am in the middle of trying to negotiate a figure to settle on the purchase of the BI in my home following hubbies BR. BR was due to failing business, we remortgaged about 4 months prior to bankritpcy with the intention of paying the debts but for one reason or another the money got used for the business due to monies owed to hubby by a contractor who then went intio administration so we never got the money, so remortgage money did not pay off debts it just created a larger one!!

although there isn't alot of equity in the house the OR has come up witht eh figure of 8.5K which may not be alot but it is a damn sight more than I have. I offered 1500 as that is what I have so far but it has been rejected, so my question is what do I do, what is reasonable. I have already paid off one debt that i was guarantor on with help from MI.

if anyone can offer any advice - what is a reasonable sum to offer???

sorry again for jumping in here but I haven't been on for some time but after getting a letter this week it prompted me to have another look and see what advice there is.

thanks again

dizzydeb

Livilou,

you need some legal advise urgently.

Your case is not exactly the same as mine as I as my BR husband and I are now divorced and he hasnt lived or financially contributed to the property for 2 years. The issue here is if they force the sale...how much will they get??. The OR is challenged with obtaining the best deal for the creditors, and are looking to maximise hubbies assets, namely his beneficial interest in the property.

As you remortgaged prior to BR you could look into the principle of "equity of exoneration". As expensive as it is you need to legal advice.

Post figures on here and I will take a look at what I think may be more appropriate to offer.