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Clare
Clare, Solicitor
Category: Bankruptcy Law
Satisfied Customers: 33821
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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An ex wife managed to get a court order to stop two creditors

Resolved Question:

An ex wife managed to get a court order to stop two creditors - the mortgage company and somebody who had obtained a personal guarantee repossessing the our jointly owned house the order also stated that all the money owed should be taken from my half of the equity. This court order was taken out after I had taken voluntary bankruptcy in 1992. My ex wife has been renting the property out since 1995. The insolvency service gave the house back in 2005 when the 1980 limitations period was changed to 12 years. My question is has the court order now been superseded by the 12 year limitation having run out and am I entitled to any of the proceeds from her renting out the property for the last 20 years?
Submitted: 2 years ago.
Category: Bankruptcy Law
Expert:  Nicola-mod replied 2 years ago.
Hello,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Customer: replied 2 years ago.
Ok I will wait
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question
My name is Clare
I shall do my best to help you but I need some further information first.
Was a Financial Order made within the Divorce proceedings - if so what did it say?
Clare
Customer: replied 2 years ago.
Hi Clare
No financial order was made within the divorce proceedings
ken
Expert:  Clare replied 2 years ago.
Hi
How much is the house worth and how much is outstanding on the mortgage?
Clare
Customer: replied 2 years ago.
The house was valued at £500,000 in 2005, the mortgage was £110,000 in 1992 when the bankruptcy occurred nothing has been paid since. I have tried to get information on the account but didn't receive a reply. The PG was for £83,000 in 1992 and nothing has been paid on that either, I am assuming they are both accruing interest? Apparently the court order taken out after the divorce apportioned all the debts to my half of the equity.
Ken
Expert:  Clare replied 2 years ago.
Hi
So there was a Court Order.
Do you have a copy?
Clare
Customer: replied 2 years ago.
No I don't have a copy how do I get hold of it, it was issued in 1992/3
Expert:  Clare replied 2 years ago.
Hi
Do you remember which court dealt with the case?
Clare
Customer: replied 2 years ago.
I think it was Sevenoaks in Kent
Expert:  Clare replied 2 years ago.
Hi
Have you got a copy of the Decree Absolute?
Are you still named on the house deeds?
Clare
Customer: replied 2 years ago.
I have copy of the decree absolute and I was still on the deeds a few years ago I am try's today to get land registers details online but have had to reregister hopefully can confirm tomorrow.
Expert:  Clare replied 2 years ago.
Hi
Your starting point is to contact the court and ask if they still have a copy of the Financial Order
I have to say that they may well say they no longer have the records - BUT it is where you start.
The Court Order has not been superseded by anything I am afraid - so whatever it says is what still stands.
It is certainly likely that the PG monies will come from your share of the equity - but it is unlikely that the mortgage will.
If you cannot get a copy of the Order then your only way forward is to write to your ex a formal letter seeking the immediate sale of the property and the release of whatever outstanding funds that are due to you.
If the Court Order means that you cannot do this - then it is up to her to produce a copy of it.
If not then you simply apply to the court for an Order for the sale of the property using the Trusts od Land and Appointment of Trustees Act.
Please ask if you need further details
Clare
Customer: replied 2 years ago.
Than you for the advice regarding the equity but where do I stand in regard to income from the rental of the property?
Expert:  Clare replied 2 years ago.
Hi
That will entirely depend upon the terms of the Order - and whether or not there was any "profit" involved once the expenses of the mortgage, letting fees and insurance are taken into account
Clare
Clare, Solicitor
Category: Bankruptcy Law
Satisfied Customers: 33821
Experience: I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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