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What Happens To The Equity In My Property If My Husband Goes Bankrupt?

Question:

My husband going bankrupt can they take my house (not in joint names)

My husband is about to declare himself bankrupt as his business has failed, I am not sure how much he owes. He has never been on any of my mortgages for the various properties I have owned in the past nor any household bills except Council tax. This was only done as he had bad credit previously, can the equity in my home be looked at to pay his debts, I think there is probably about £60,000 equity in my home.

Answer:

If the debts are strictly in his name and he is not on the property with you it can be OK.

I say/write can be OK as in his bankruptcy the Official Receiver will look to see if he has any assets such as property. Since he has been residing with you the OR/Trustee may try to establish your husband has a beneficial interest in the property.

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Source: What Happens To The Equity In My Property If My Husband Goes Bankrupt?

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