Bankruptcy & my home

Loz55

My ex partner, who jointly owns our property was made bankrupt. His trustee is applying for an order of sale & possession. The 3 year rule does not apply in our case (we never married and the property was not the bankrupts sole or principle residence at the date of his bankruptcy) so the property or his share of the equity will never revert back to the bankrupt. Can his creditors be asked/approached by the trustee so see if they would defer the sale of the property until our youngest son reaches 18/finishes his education? Both our sons live with me.

longtermplanner

How much equity is there? You own half of this, so have you explored options that would let you buy the other half?

How old is your youngest? 17 and the Trustee may well be reasonable, 3 and no, it's not going happen.

(BTW It is the Trustee's decision, not the creditors. AFAIK the creditors will never be asked to agree to something. The Trustee has a duty to maximise the return to the creditors.)

alastairq

The OP's share of the equity may now be more than 50%?

The OP has the upper hand regarding a 'forced sale'...., perhaps..by being resident in the property, with children under 18 years of age.

Will the Trustee not simply place a Charge on the property?

Could the OP not buy the Ex's 'interest?' [As intimated by Ltp above?]