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Alice H
Alice H, Solicitor/Partner
Category: Law
Satisfied Customers: 2850
Experience:  Partner in national law firm
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I have been served with insolvency and want to be made bankrupt.

Customer Question

I have been served with insolvency and want to be made bankrupt. I have a property to protect. Can my wife put a charge on my property with the land registry so that they can not sell my property?.
Submitted: 4 years ago.
Category: Law
Expert:  Joshua replied 4 years ago.

Josh-2010 :

Thanks for your question. Please kindly RATE my answer when you are satisfied

Josh-2010 :

Is the property in your sole name please?

Josh-2010 :

Did your wife contribute to the property in terms of deposit or repayments against a mortgage?

JACUSTOMER-z73q48pj- :

The property is in my sole name

JACUSTOMER-z73q48pj- :

She did on repayments against the mortgage and some lump sum in the past towards the property

Josh-2010 :

I will opt out for a family lawyer to assist with this. Best wishes

Expert:  Alice H replied 4 years ago.

My name is XXXXX XXXXX I'm happy to help with your question today.

It is generally a bad idea to transfer the house to your wife or put a charge on it in the way you've suggested because giving away assets to avoid them being included in bankruptcy could amount to wrongdoing or concealment under the Insolvency Act 1996, which is a criminal offence.

Also acting in this way could result in the bankruptcy order lasting longer than the usual 12 month period.

Just because you are being made bankrupt, it doesn't mean you will automatically lose your home. Your wife probably has a share in the property known as a beneficial interest which she is entitled to. In addition, for the first 12 months no court would force the sale of a home lived in by a bankrupt person's partner and children.

I hope this helps you to understand the position better. I am happy to discuss this further but please remember to rate my answer.

Alex