making an offer for charge on my property?

[elaine.j]

My ex spouse has a 40% charge on my property. He has been declared bankrupt. I want to make an offer to the court / trustee for that 40% share. Do I have to pay the full amount to remove the charge. Who decides to accept or not accept an offer. Is it negotiable

[Sadsack]

Hi elaine.j

I cannot give you a definitive answer to your question, but if you hang tough for a couple more hours, there are quite a few people who regularly post on here who are experts in property and charges.

I am sure they will give you the correct advice.

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

[Cybus]

I would expect the appointed Trustee to make contact with you at some point to discuss the property.
Insolvency and Matrimonial Law used to be very much separate from one an another, but recently the tighter Insolvency Act 1986 has been found in some instances to be able to overturn or pose serious question to transactions made under matrimonial law.
You're going to need to seek guidance from your own solicitor at some point regarding this as the property is likely to be subject to matrimonial proceedings unless you are suggesting that in divorce proceedings, it has been suggested that your spouse would be entitled to 40% of the property.

Tell it like it is.

[MelanieGiles]

It is most likely that you will be required to pay the full 40% to your ex-husband's Trustee.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
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