Would your OR tell you if they thought you had an interest?

unsure100

I am discharged and live with my partner in her house which is not in my name.

Would my OR have told me if they thought I had an interest?

it's her mortgage, I lived there for a few weeks prior to br and the funds came from her for the original purchase. or does the Or have three years

Mouse1812

Nothing to worry about, you can't have acquired a pre bankruptcy interest in just three weeks.

No interest means nothing at bankruptcy so three years not relevant, they don't have anything to "review".

unsure100

Mouse1812 wrote: »

Nothing to worry about, you can't have acquired a pre bankruptcy interest in just three weeks.

No interest means nothing at bankruptcy so three years not relevant, they don't have anything to "review".

excellent thanks mouse

Mouse1812

Martinthomas wrote: »

They can only take assets that are in your name. If your name is not on land registry and you are not paying the mortgage or even on the mortgage then there is no question that any equity that may be in the property would be from your doings. The official receiver checks on land registry at time of you filing for bankruptcy. This is the same as for example you were living in your mum and dads house and they owned the property and you went bankrupt in their address their property and credit files would not be affected by your bankruptcy.

That's not strictly true. The key question is who has paid, either directly or indirectly, for the asset. The OR investigates contributions to the household to specifically see if these result in indirect assistance with paying a mortgage. A beneficial interest in an asset can arise from either or both these financial contributions and the intentions of the parties.

unsure100

so could an OR claim a beneficial interest from a house when a child going bankrupt lives with the parents?
I don't know if I am correct but I would think they would have to be paying a massive amount for years and years before they would even go down that road?

unsure100

unsure100 wrote: »

excellent thanks mouse

how long would it take to build an interest worth pursuing, I.e if you were paying 50/50

Mouse1812

Have a look at your last mortgage statement. You paid £12,000 (say), they added interest £10,000 (say). So over a year the mortgage debt decreased by £2,000. Did the value of the house go up or down ?

That assumes a repayment mortgage, some are interest only.

There is no standard answer.

unsure100

so I expect it would be more worthwhile when coming to the end of a mortgage it would be more valuableI

unsure100

Mouse1812 wrote: »

Have a look at your last mortgage statement. You paid £12,000 (say), they added interest £10,000 (say). So over a year the mortgage debt decreased by £2,000. Did the value of the house go up or down ?

That assumes a repayment mortgage, some are interest only.

There is no standard answer.

would the insolvency service decide that 50% of £2000 would be worth pursuing? assuming the house isn't owned by the bankrupt