Discussions on life after your bankruptcy discharge.

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#218913 Hi,

My 3 year time limit from my BR is at the end of this month.

I've received a letter from the IP stating that the Matrimonial home (form 6.83) is now viewed as part of my estate.

When I went BR I was separated from my wife (7 months earlier), but we have subsequently got back together for the sake of our child.

She is the sole mortgagee and her sole name is on the deeds. She bought the house before we were married and I lived with her as a tenant.

What is going to happen - any help or advice appreciated as I'm tearing my hair out.

#218915 When I went bankrupt at the end of 2006 commonly the advice handed out under such circumstances was that the OR couldn't touch the house as an asset. Hope I am right hugehole. I'm sure someone else with more up to date knowledge will confirm or deny.
#218990 Whilst i would love to say that it "Definietly" wont be an asset, houses are not that easy.

Firstly the term Beneficial Interest is what can be built up if you pay for some of the costs of the upkeep of the house and the household. So for instance the following has been used to establish a BI

Household Food bills
Mortgage bills

So if you and your wife are living together and you both chip in £700 each for the household bills, then that can be used to establish a 50% share each.

If your wife has documentation that shows that it is solely hers, then this can be used, however (as mad as this bit sounds) it is not certain that it will work as we are not talking about LEGAL ownership.

The real question is what action that take before the 3 years are up, as if my memory is correct if they fail to do anything, then tough, but this applys to the family home only.

I think your step should be to write to them and see how much they think it is worth and then get your own valutaions and how much you have contributed and argue your case.
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