Hubby's potential Insolvency / bankruptcy

[Josie8]

If its owned as a beneficial tenancy then it is assumed it is a 50/50 share, regardless of who paid deposit etc. Any different and you would have been tenants in common with shares divided in % agreed

[Josie8]

beneficial tenancy is the more normal and the net result is whichever party dies their share automatically reverts to the other party, bypassing the estate etc. The law assumes that if beneficial tenants then 50/50 split.

 

Tenants in common = the two parties decide to state that their shares are seperate (and can be left to anybody else) and can determine the ratio i.e 20 % to 80%.

 

Just a word about secured debts - check that your husband was able to no longer be liable because I was under the impression that secured loans and child maintenance (for example) can not be wiped out by BR. In other words if secured loans are owned jointly creditors can come after you but also him when out of BR. If secured debts in his name alone then they could come after him at end of BR.

 

I may be wrong but it would do no harm for you to clarify the position with the OR.

[Josie8]

I suspect the tenants in common thing could be errr back dated:p

 

 

 

No it can't be as it has to be done formally and registered at the Land Registry and the OR has the power to revisit transactions for I think the previous three years if the OR considers its a manouvre to deprive creditors.

 

If you weren't aware that you are tenants in common then you most probably have a beneficial tenancy.

 

You can normally negotiate a 10 -15% discount off the official value of beneficial interest with the OR.

[Josie8]

sounds like you both own it beneficially. It would state as tenants in common.

 

As to the car issue,

 

Registered keeper does not prove ownership. If you have been making payments out of a joint account etc then you should be able to prove part ownership at least. In which case the 700 you've just paid out - the OR owes you half. Whose name was the insurance in? If your husbands were you named driver?

 

Had you had the car liveried in any way for your business? In what way is the car specific to your business - you mentioned cards etc being printed.

 

The more reasoned argument you put up the more likely the OR is to settle.

[Josie8]

There is established case law where the other half is owned by the wife. I'll root it out for you

[Josie8]

I have noticed a lot more threads regarding Statutory demands, which has got me pondering:

 

Could I still receive an SD for my personal debts (which are over £1k each time)?

I am sure that I know the answer, but just wondered where that would leave all my OCs? And whether action would be more or less likely in my situation!?

Just to clarify, I have not yet taken any further formal action regarding the BI, other than providing my IP with paperwork

Red

 

 

Yes if the debt is for more than 750.00. As to your other creditors if they're unsecured they will have to wait in line. A secured creditor or say the Inland Revenue would take priority