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Protection against ex partner bankruptcy
Limeskies345
Posts: 20 Forumite
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
Thank you
0
Comments
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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.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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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.
DDDebt Doctor, Debt caseworker, Citizens' Advice Bureau .
Impartial debt advice services: Citizens Advice Bureau Find your local CAB *** National Debtline - Tel: 0808 808 4000*** BSC No. 100 ***0
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