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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33946
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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I have lived and worked together as self employed with my partner

Resolved Question:

I have lived and worked together as self employed with my partner Sharon for 9 years and I was made bankrupt April 2012. The trustees of the bankruptcy have noted that the house is in my sole name and now, just before the 3 years which they have to lay claim to my house, the bankruptcy trustees are issuing proceedings to sell the house. The house is crucial to my partner and me running our business and if it is sold, my partner Sharon will lose all her hard work building the business and her livelihood. She will also lose her livelihood and be unable to pay ongoing commitments, which would leave us both with nowhere to live, no means of income and a new lot of creditors.
We do not have capital to pay the trustees interest out to thier satisfaction. My partner Sharon must have some rights to prevent the sale. Can you tell me what you think please.
Peter & Sharon
Submitted: 2 years ago.
Category: Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
What financial contribution has your partner made to the property?
Clare
Customer: replied 2 years ago.

My name is ***** ***** I owned the house sole in my name in the first place after buying my ex wife out in 2006.

My partner Sharon (I met later) came to live and work with me and has contributed all her income into paying the utilities and interest only mortgage as the principal breadwinner of us as a couple for the last 3 years or so. Interest paid is about £87k other items to do with establishing our livlihood could be justified atributable to her at about £40k

Customer: replied 2 years ago.

I am an ex cancer patient and am unable to get work other than being self employed, reliant on my partner Sharon and her business

Expert:  Clare replied 2 years ago.
Hi
How much is the house worth and how much is outstanding on the mortgage?
How much is the monthly mortgage payment?
Clare
Customer: replied 2 years ago.

Trustees say thier drive by valuation is £800 - £900k

We hope to show by RICS chartered surveyor something substantially less.

Outstanding on mortgage is about £610k

Arrears under arrangement with the lender are about £10k

Interest only element is £1420/mth

additional payments are about £150/month although we could pay more, and have only left the arrears in place under control to be able to show if the house was sold it would leave a creditor who I would be liable for and unable to pay with loosing my livelihood

Customer: replied 2 years ago.

Clare, I have a doctors appointment at 4pm and need to leave my desk for a while. I do want to pick this up asap when I am back in say 45mins or so, please.

Thank you

Peter

Expert:  Clare replied 2 years ago.
Hi
How much has your partner paid monthly towards the house hold bills?
Clare
Customer: replied 2 years ago.
Utilities about £500/mth
Home improvements about £30k
Customer: replied 2 years ago.

Hi Clare I'm back. She has paid about £500/mth into utilities and all our household expenses have been paid by her as she is the principal breadwinner for the last 3 years. The home improvements have all been paid by her over the last 3 years which total about £30k and she paid some of both elements prior to that, going back to 2007

Customer: replied 2 years ago.

Hi Clare, are you able to give me your attention at the moment?

Expert:  Clare replied 2 years ago.
Hi
My apologies for the delay.
What structural improvement or alterations has she paid for and by how much has this enhanced the value of the property?
Clare
Customer: replied 2 years ago.

She has paid for 2 outbuildings to be built at an approximate cost of £20,000, and this has probably increased the value by £30 - £50K

Expert:  Clare replied 2 years ago.
Hi
Do you have the evidence of this - receipts bank statements etc?
Clare
Customer: replied 2 years ago.

Probably. Her statements probably show the money being transferred to my account before it was a joint account for me to pay the contractors

Expert:  Clare replied 2 years ago.
Hi
The fact that she paid for the Outbuildings does give her a limited claim on the property.
The mortgage payments she has made enhances this a little - but not a great deal since it is viewed as the equivalent of Rent that she would have had to pay anyway.
This claim does NOt give her the right to stop any sale - but it does give her a claim, a limited claim, on the proceeds of sale which she will have to negotiate with your Trustee in Bankruptcy.
I am sorry not to give you better news
Please ask if you need further details
Clare
Customer: replied 2 years ago.

Is it possible that having a 9 year relationship my partner has got some rights as to the outcome, over and above her contribution? This will probably be my last shot at this with you, so sorry to push this last query and thank you

Expert:  Clare replied 2 years ago.
Hi
I am so very sorry - but no there is no other claim that she can make
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33946
Experience: I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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