What happens to my home

L

lala41

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Hi

What would happen to my home, if my other half went bankrupt, I am the sole owner, he is not on the title, can they still take from the equity even though hes not the property owner? we are married.

Thanks in advance
 
This is not quite as simple a question as it appears, and cannot be answered without a lot more detail.

By way of general observation only, and with the foregoing qualification:

1. If you are indeed the sole true owner of the property, then your spouse's creditors cannot take it.

2. If you are the registered owner because your spouse transferred the house to you, or because your spouse handed over assets to you to fund its acquisition, then the courts can look through this in order to let the creditors have a stab at it.

You really need to get legal advice from a solicitor who is thoroughly conversant with (or has been thoroughly instructed on) your affairs and those of your partner.
 
So if both spouses own houses and one goes bankrupt. The others property would not be jeopardized?

Jaid
 
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