Help with house eviction/sale followiing bankruptcy

ah888 · 23 August 2018 at 3:34PM

Hi I am wondering if anyone can advise me as what to do and when. I went bankrupt in June and I have had the meeting with the official receiver. I believe my case has now been passed to an insolvency company. I, along with others living at my house have received a letter saying we could be evicted and the house may be repossessed and sold. My son would like to buy my share of the equity so I remain in the house but at what point does he contact them to discuss this. Also, my partner paid the deposit on the mortgage and has paid half the mortgage for the past 12 years so will that part remain her share? thank you for any advice help received

National_Debtline · 23 August 2018 at 4:01PM

Hi ah888

Is the property solely in your name? Or jointly owned with your partner? If it is jointly owned it will usually be assumed that you are entitled to 50% of the equity, and if the property is sold your partner will be paid out her share. If you feel your partner is entitled to more than 50%, for example because she paid the deposit, you'll need to show evidence of this.

If your son wants to buy your share of the equity you will both need to seek legal advice on the process, it can be expensive. You can Google law centres and law clinics to see if you can get any free legal advice locally. Your son can approach the trustee now to discuss it, although you may want to consider getting some independent valuations of the property first.

Best wishes

Susie
@natdebtline

Help with house eviction/sale followiing bankruptcy

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