I am about to go bankrupt and I have debts owing around £120,000. I have no assets of my own but wife owns a home where I reside. There is no mortgage to the house and I have never contributed towards the purchase of the house which was around 10 years. Can the debtors make my wife accountable for my debts?
We have never had a joint bank account or owned any property jointly. This solely is her home.
Also is there any specific statute which relates to this?
In this instance the official receiver may try to argue that you have contributed towards the equity of the house even if not directly via the mortgage. It is more usual for them to have no claim over the property so prepare well and push back. The onus is on them to prove you made a contribution and therefore provide evidence. This is why it is rare for a trustee to claim part of the property in this instance. Take advice from an Insolvency Practitioner. Good luck.
In this instance you need to get some advice from a licensed insolvency practitioner. There is every chance a Trustee would be looking to realise your share of the equity in the house – possibly by way of a legal charge or by asking your wife or a third party to buy you out of your share. Because you are married and living together it is likely that a beneficial interest can be proven.
My wifes father has just past away and left his house to my wife only. She is willing to sell the house to pay off her part of our IVA. But she is unwilling to pay off my part of my IVA. Can she be forced to sell this house to pay of both our IVA’s.