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tdlawyer
tdlawyer, Lawyer
Category: Law
Satisfied Customers: 1096
Experience:  11 years experience of general practice.
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I was made bankrupt 5 years ago and I bought my house back

Customer Question

I was made bankrupt 5 years ago and I bought my house back from the receiver for one pound as it was in negative equity.the house now has a little positive equity and aim thinking to sell and buy another one.if there is positive equity after 5 years, does the reciever entitled to take it the surplus and am I allowed to sell?
Submitted: 3 years ago.
Category: Law
Expert:  tdlawyer replied 3 years ago.

tdlawyer :

Good morning. Thank you for your question. My name is Tony, I can help you with this.

tdlawyer :

If you have purchased your equitable interest in the property back from the trustee in bankruptcy, and he will no longer have any rights to your property whatsoever.

tdlawyer :

If there is an increase in value of the house, which means that there is some equity in it, then this will belong to you now, and the trustee in bankruptcy will have no claim over it whatsoever.

tdlawyer :

Therefore, you are entitled to sell the property and do as you wish with it.