question category: Bankruptcy

my ex was taken off the mortgage July 2017 he has threatened to declare himself bankrupt.

Will they take money out of my house. I sold my property in 2015 that I owned on my own. we bought a house together in 2016. the deposit was my equity. he has not loved at the property since sept 2016

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Re: my ex was taken off the mortgage July 2017 he has ...

Based on the information you have provided; If your ex partner does go bankrupt they will be asked to provide information about any property they have owned previously. If the trustee believes that a share of the property is available to the bankruptcy then they will contact you and ask for the value of that share. At that stage you would have the option to buy the share out of the bankruptcy or to provide proof that the bankrupt person does not have any rights to that share of the property. You may need to take independent legal advice to define if they have any rights to any of the equity in the property, any beneficial interest gained. It would not be possible to define that here as there may be other things to consider beyond the details you have noted.

This question was answered by Debt Advice Foundation, an independent UK debt advice charity. If you need further help, Debt Advice Foundation provides a free, confidential helpline and can advise you. Click here to find out more.


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