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Ask Alex J. Your Own Question
Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3671
Experience:  Solicitors 2 years plus PQE
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In an order for a house to be forced to be sold can you please

Customer Question

In an order for a house to be forced to be sold can you please advise what is meant by "The second respondent does not have an equitable account"
Submitted: 3 years ago.
Category: Law
Expert:  LondonlawyerJ replied 3 years ago.

LondonlawyerJ :

Hello I am a solicitor with over 15 years experience I will try to help you with this. In order to be able to answer I need you to explain what has happened. Where does the phrase you refer to appear? I will be travelling for some of this afternoon and evening but will return to this site later on.

JACUSTOMER-odi83grv- :

This is in relation to a trustee in bankruptcy forcing the sale of a property for which I am the co owner to pay an outstanding tax bill. I am referred to as the second respondent but need to understand what this phrase means before I sign a postponement order

LondonlawyerJ :

I think that takes this question outside my expertise so I will opt out of this question.

Expert:  Alex J. replied 3 years ago.
Hi,

Thank you for your question and welcome.

My name is AJ and I will assist you.

Does the other Co-Owner of the property reside in the property without you?

Kind regards

AJ
Customer: replied 3 years ago.

No we both reside on the property. The trustee has registered his interest

Expert:  Alex J. replied 3 years ago.
Hi,

Thank you.

An equitable account is normally where you have made a financial contribution to the property that some how gives you additional rights to the proceeds of the property if it were sold.

This Judge could make a declaration that you are entitled to be accounted to for a greater (or lesser) share of the property based on your contribution to the property.

I presume this Judgment is simply saying that you and your co owner split the proceeds 50/50.

Can you give me any more information?

Kind regards

AJ
Customer: replied 3 years ago.

There was a mortgage outstanding if £11 which I paid off 7 years ago does this course f also I have been the major earner uo to Oct last year I presume from what you are saying that this would count towards my share of the property.


 

Expert:  Alex J. replied 3 years ago.
Hi

Thank you.

Were you contributing more to the mortgage?

Kind regards

AJ