Protection against ex partner bankruptcy

Limeskies345 · 15 November 2018 at 12:15PM

Hello......I'm currently in the process of transfer of equity, whereby I am buying out an ex-partners share in a property. How can I protect myself against my ex-partner becoming insolvent in the next 5 years?
Thank you

System · 15 November 2018 at 2:45PM

You already have, well are in the process of doing by buying them out of the house. Just ensure that you no longer have any joint financial products and file a notice of disassociation with the credit reference agencies once you're clear of those.

debt_doctor · 15 November 2018 at 7:46PM

Hi,

I presume you mean protection against an alleged 'transfer at undervalue' (TRV) from a potential ex's future bankruptcy?

Make sure that you are indeed paying the correct amount for the equity your ex holds and that you have plenty of documentation to prove it. If any future OR takes the view that the share was sold for less than it was worth then they can come to you for the difference.

DD

Protection against ex partner bankruptcy

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