Author Topic: Ex possibly going bankcrupt & joint mortgage  (Read 15113 times)


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Ex possibly going bankcrupt & joint mortgage
« on: Jan 28, 2014, 05:59:29 PM »
My partner (never married) left the property which I am living in with my children 15 months ago - the mortgage is in joint names and I have been paying it since he left. I am now in a position to pay him his share of the equity. I have been advised not to do this as in the past he has threatened going  bankrupt but as yet has not gone down that road. As it stands I am unable to get the mortgage in my name alone and have been told that even if I pay him out now because he is still named on the mortgage if he goes bankrupt the receivers can still make a claim on the property to pay off his debts. I would like to know if this is correct and if there is anyway to prevent this from happening with some sort of document from a solicitor. Any advice would be greatly appriciated.
Thank you.


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Re: Ex possibly going bankcrupt & joint mortgage
« Reply #1 on: Feb 11, 2014, 11:35:43 AM »
Good morning.  Did you ever get this issue sorted. If not please feel free to email and we can maybe be of help

Richard Stockburn

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Re: Ex possibly going bankcrupt & joint mortgage
« Reply #2 on: Oct 21, 2014, 05:49:15 PM »
Hi there

As you cannot afford the mortgage in your own name, the only way to effect a 'transfer of equity' would be to bring other parties on to the mortgage e.g. parents, siblings, a trusted friend, etc.  If this is possible, you would still need to get him to sign a 'declaration of solvency' when he receives the pay out as a form of protection against future claims against the property in bankruptcy.

Richard Stockburn 07894 481175