The Official Receiver (OR) will need to address any assets owned, or part owned, by your husband and will seek to realise any equity. This may result in the sale of the property if that is the only means of releasing the equity. The assets of the bankrupt become the assets of the OR in bankruptcy and the OR is likely to offer the bankrupts interest in the property to the other interested party (you) in the property before seeking a sale of the property.

This question was answered by Debt Advice Foundation, an independent UK debt advice charity. Debt Advice Foundation provides a free, confidential helpline and can advise you. Click here to find out more.

If your ex husband goes bankrupt the Official Receiver will look to your jointly owned property to see if there is any equity contained within it. If there is more than £1000 of equity he/she will try to release 50% of this (i.e. your ex-partners share). The Official Receiver will give you or a third party the chance to buy out your ex-partners share of the property. Failing that the Official Receiver has the power to put a charge against the property or force the sale of the property. Please seek further free money advice.