Answer: What you are asking is can you hide an asset if you go bankrupt, and it can be viewed as fraud. You are asked, and required to disclose all property you have owned for afew years prior to going bankrupt. If you do not disclose this, it is fraud. If you do disclose the sale or transfer, the Receiver/Trustee has the authority to reverse the transaction, or pursue those that may have the proceeds from a property that you once owned, or in part owned.
So all in all, not a good thing to try and hide. You may want to look at other options, or be prepared for your portion of any equity in a property to be viewed as an asset in bankruptcy.
That is not to say whomever you own the property with, would not get a chance to buy-out your portion of any equity to preserve the property.
I hope this has answered your question.
For more information and assistance, please complete our eligibility form at our web site www.bankruptcy.org.uk or ring us at 0800 690 6855.