Repossession of PPR

[Ryan]

A property near me has recently been repossessed by the bank. The family were in difficulty going back some time but I understood there was legislation brought in some years back that the family home was protected in Bankruptcy proceedings?
Or is it if there are no dependant children this changes?

 

[Brendan Burgess]

There is no blanket ban on repossessions.

There are a few possibilities

1) They could have agreed to the repossession.
2) They didn't agree, but the court granted it anyway.
3) They may have attempted a Personal Insolvency Arrangement but it might not have been sustainable.
4) If either or both parties went bankrupt, they lose their ownership of their share of the home and it vests in the Trustee (?). He could then surrender it to the bank.