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If My Husband Goes Bankrupt What Happens To Property In My Name But The Mortgage Is In His Name?
Question:
HOW DOES MY HUSBANDS BANKRUPCY EFFECT PROPERTY THAT IS ONLY IN MY NAME SINCE 15 YEARS, BUT EVEN I MAKE THE MORTGAGE PAYMENTS, THE MORTGAGE ITSELF IS IN HIS NAME? WE LIVE SINCE 8 YEARS SEPRERATED IN 2 apartments; thank you for your answer
Answer:
If the property is in just your name and you make the payments, but the mortgage is in his name it could get a bit complicated.
If you can show you have made the payments and the Official Receiver/Trustee in his bankruptcy accepts this, you can show you have an interest, even a majority interest in the property.
With your husband’s name on the mortgage, he is responsible if the mortgage payments are not paid, which gives him an interest in the property.
If there is equity in the property it gets even more complicated as you would need to establish and show through the land registry you have an interest in the property and how much of an interest.
Whatever amount of interest your husband has, and amount of equity that is his, the court/Trustee can request be paid into the bankruptcy and they also have to allow him to continue having the mortgage in his name.
Thank you for letting me help you.
Jon
If you have a bankruptcy question you’d like to ask, just ask using this online form. All help is free.
Source: If My Husband Goes Bankrupt What Happens To Property In My Name But The Mortgage Is In His Name?