does that mean someone else will deal with it?
No, although the Trustee did indicate in the early days that it might be an option. The fact that the property remained in negative equity up until the time of my bankruptcy discharge meant that option option was never pursued.
The house is in my name only. I was discharged from bankruptcy in 2013. The house was part of the divorce settlement: my former wife and children would remain in the house (the former matrimonial home) until the youngest completed her tertiary education. The settlement deal was that I would pay the mortgage, and on disposal the equity would be split 50:50 between me and my former wife. Obviously the divorce settlement was reached prior to my bankruptcy. She, naturally, has a charge over the property.
Half a million or so.
I'm not sure why the size of the equity is material to the question I ask. But, for what it's worth, it is not a very sudden change - it all depends on the original starting values.
"BANKRUPTCY RESTRICTION entered under section 86 (4) of the Land Registration Act 2002, as the title of the proprietor of the registered estate appears to be affected by a bankruptcy order made by the xxxx County Court against xxxx [me].
No disposition of the registered estate is to be registered until the trustee in bankruptcy of the property of the bankrupt is registered as proprietor of the registered estate."
Not to my knowledge, and I think he would have told me if he was applying.
In the absence of such Orders then the ownership of your share of the property has reverted to you
You should write to the land Registry showing evidence of the discharge and confirming that no Orders have been made.
I hope that this is if assistance - please ask if you need further details