House selling with a 'restriction'

Nursey1984

Complicated story but the shortened version is that I have a joint mortgage with my ex husband who went bankrupt. There are 'restrictions' on the property itself when I have looked at the land registry.
I will be selling this house, there is about 15k equity in it and he hasn't lived here for two years. I am assuming that the selling fees will be paid and then the rest will be swallowed up by his official recievers etc, does that sound correct?

skylight

Out of that 15k (or whatever you actually get after the sale), the selling fees etc will come out and the remainder will be split between the pair of you as joint owners. His share will be sent to the OR.

Make sure that your solicitor is aware of your ex-husband being BR and the charge on the property and get him to explain to you more in depth about what happens.

Nursey1984

So you think half of 'profit' would be mine. Will be a complete nightmare for any conveyancer I'm sure but getting a head start on info helps

RAS

It depends on what beneficial interest the OR has registered. The normal base line is 50% but you could have tried to argue that down if say tyour ex had left a considerbale time previously and you had paid all the mortgage since.

It might be best to ring the OR and ask them.

But collect your facts about the value at the time he went BR, the equity when he stopped paying and the current equity, plus how much you have paid in since he left.