- Fri Sep 05, 2014 4:00 pm
I have spoken to a contact in the AIB.At this stage, they have STRONGLY suggested that you seek LEGAL advice, urgently.
Yes they agree that 'normally' there would be protection in place, however, they have reminded me that it will depend on the next move by HMRC (or other descenting creditors) if the negotiations fail and they take a different tack, which may include them mooting for personal bankruptcy.
In this case then different factors come into play depending on main financial connections, for example they could look at what would happen to the property in the event of your death, who would inherit and who would benefit, is there a case they could argue in court that this is an asset that has been deliberately and with intent having been put out of reach.
I have seen (albeit in England) a case where because the wife contributed to the housekeeping, bought cleaning material, even bought plants for the garden, they argued she had 'indirectly' contributed towards the value of the house! So remember that a dammed good solicitor would and could argue for indirect contribution!
What legal documents are in place regards the ownership of the house?, does she appear on ANY paperwork concerning the house?, when was the house bought?, was she moving towards potential insolvency then?
Other considerations that come into play include was this a pure personal debt, or was it rooted in a business debt, again this can effect the creditors handling of the case, Of course there is always the other bugbear, where any personal guarantees in place!
The main gist of what I am being told is that this MAY be more complex than a simple yes or no, yet at the same time depending on the legal connections it could just as easily be a simple yes or no.
It is these connections that you need to legally confirm, and this is an area we are not best placed to comment on, as it is a legal matter rather than a straightforward debt matter. The emphasis on what paperwork and financial connections there are, other then the title deeds.
The reason I asked if you were negotiating as an individual or through an accredited third party, is that often a third party can have a lot more weight in negotiation kudos with organisation such as HMRC. So I would also give Payplan or NDL a call, they may be able to champion on this one for you (you can find the link to them in the red bit in my signature)