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Max Lowry
Max Lowry, Advocate
Category: Bankruptcy Law
Satisfied Customers: 1457
Experience:  LLB, 10 years post qualification experience
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Hi I have been out of my bankruptcy now for a few months.

Resolved Question:

Hi
I have been out of my bankruptcy now for a few months. I bought the BI in my home while I was in bankruptcy. I now intend to do some work on it as it was very, very tired.
With the market up lift and the work I plan to do it will probably be worth a lot more and I may decide to sell to remove the mortgage and buy somewhere smaller.
What implications are there in me doing this with regards ***** ***** trustees etc.
Thank you
Submitted: 2 years ago.
Category: Bankruptcy Law
Expert:  Max Lowry replied 2 years ago.
Hi, welcome to the site. My name is ***** ***** I will help you with your question. If you bought the beneficial interest in the property from the trustee then the property should belong to you to do what you want with. As you have been discharged there should be no other claims against you. You haven't mentioned an income payments order or agreement so the trustee will not be asking you to provide details of your income or any money which comes into your possession. I would just check with the land registry that the trustee has removed any bankruptcy entries against your property. You can make the application online at the HM land reg website and it will cost about £4.
Customer: replied 2 years ago.

so this would not be classed as say a windfall?

Expert:  Max Lowry replied 2 years ago.
It will not be classed as a windfall. You are out of bankruptcy and you are not subject to an income payments order/agreement or bankruptcy restrictions order. To make sure the property is yours carry out the hm land reg search. If there are entries ask the trustee to remove them ASAP.
Max Lowry, Advocate
Category: Bankruptcy Law
Satisfied Customers: 1457
Experience: LLB, 10 years post qualification experience
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