When you declare yourself bankrupt your Trustee has the power to investigate your financial affairs without your consent.

You must not sell your assets to anyone for less than fair price and you must account for what you did with the money.

So the answer to your question is Yes, and many people so sell their share of a house for example to a friend, but it has to be for a fair price and the money has to go towards your debts.

If you dispose of or hide an asset this is called a "Transaction to the detriment of creditors" and is a bankruptcy offence.

I found an example for you:

http://www.insolvency.gov.uk/databases/ddirector/viewbrobrudetailsmore.a...

Mr Muhunthan sold his house to his wife and as a result he will be bankrupt for 6 years. It is likely the transaction was reversed and the house was sold for the benefit of his creditors.

If you want more advice about what you can and can't do you should consult an insolvency practitioner or an impartial debt advisor. I am not an IP but you can contact me at Debt Advice Foundation by clicking on my name.

You must never give or cheaply sell off of your assets off to friends or family prior to being made bankrupt. If you do they may still be seized.

Before you decide that bankruptcy is the only option for you and before it is too late get help from a debt help company. You may find that an IVA or Debt Management Plan allows you to keep your home.