Question:
Ex husband is declaring himself bankrupt, he has no beneficial interest in my property as i bought him out when we divorced, he is currently living with his parents. We have no joint debts.
Will his bankruptcy affect me and my property and will it affect his mother whom he currently lives with?
Answer:
Depending on the time that has passed in when you bought him out, the Official Receiver in his bankruptcy will question and may request documentation on the sale.
This should not affect you unless his portion was sold at an amount under what the value of his portion of the property was at that time.
If it was sold undervalue then the OR may look closer at the transaction.
Thank you for letting me help you.
Jon
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