BR advice

Mrmonkey_2

Hi, apologies if this question has been asked before, but I could really use some advice regarding my dads BR

My dad was made bankrupt by HMRC in 2011 and we believe he was given an early discharge a year later in 2012. A recent check on the individual insolvency register would also seem to confirm this as he is not on it.

If my dad was discharged early as it appears, is it still normal to hear from the official receiver regarding them taking action to sell my dads half of the house he co owns with my mum?

Any advice on this would be greatly appreciated as we are now all worried sick again about what will happen to the house after believing that everything was over for the past 2 years.

alastairq

Yes, that is normal. Being Discharged does not mean , all procedures that the bankruptcy generates, are at an end.


You Dad had ad an Automatic Discharge [normal] which occurs after 12 months.

This releases your Dad from the constraints placed upon an Undischarged Bankrupt.

However, if a property asset is identified, the OR has 3 years 3 months {?} to commence proceedings to realise that asset.

From what you say, it appears there is equity in your parent's house?

The OR has a duty to realise that equity [or, your Dad's share of it] for the Bankruptcy estate.

That may mean the house has to be sold...or it could mean someone close to your dad [usually] will have the opportunity to purchase the OR's interest in that equity.

Your Mum would get to keep her share....don't forget.