One more question I’m afraid !!!

susielou2020

When I split up with my husband 10years ago, it was agreed that he kept the family home and I had the business. At the time there was no equity in the house With a £250k mortgage (unfortunately we didn’t get a valuation) but a similar property locally sold for the same price.
At the time my husband couldn’t afford to get a new mortgage so my name stayed on the mortgage & the deeds until 1 yr ago when he was in the position to get a new mortgage and remove me from the deeds. During that time I have made no contribution whatsoever to mortgage or upkeep/maintenance.

Will the OR demand that I use half any equity in the house now to pay my debts.
The business that I had as part of the separation went into liquidation 2yrs ago do I have no assets.
Please can someone advise me?

Minkym00

In a word, yes. You say yourself that your husband has needed your name on the mortgage in order to keep the house for it to increase in value, so you earned a beneficial interest.

- How much equity was in the house when you came off the mortgage? 
- What was your debt position when you transferred the house to him? 
- Do you have any written evidence of the agreement to split the assets the way you did?

Have you actually gone bankrupt yet? If you transferred the house to him whilst already technically  insolvent (i.e. you owed more than you owned) then you are looking at a BRO, as well as the OR looking to recover the lost asset, so you may wish to reconsider your position.