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Ask Clare Your Own Question
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34898
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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I have been separated from my husband for 2 years, we have a

Customer Question

Hi I have been separated from my husband for 2 years , we have a home we rent out in joint names which has a loan on it as well as the mortgage. My husband has now informed me he is going bankrupt and I don't know how this will affect me ?
Submitted: 1 year ago.
Category: Family Law
Customer: replied 1 year ago.
what is the cheapest way to divorce him?
Expert:  Harris replied 1 year ago.

Hi, thank you for tour question. Just a bit more information required:

-Will he agree to the divorce?

-What other assets do you both have?

Customer: replied 1 year ago.
he will agree and no we don't have any other assets
Customer: replied 1 year ago.
Hi are you working on my answer ? Not sure how long it takes
Expert:  Harris replied 1 year ago.

Thank you. If he agrees you can apply under the fact of 2 year separation by consent - you can complete the divorce petition yourself and send it to the relevant court. The court fee would be £550. You can follow the process here:

In relation to the bankruptcy and assets - if he becomes bankrupt there will be a risk that any property held as joint tenants may be subject to the bankruptcy and the property may have to be sold in order to meet his debts. It would therefore be in your interest to obtain detailed legal advice from a local solicitor as it may be necessary to consider purchasing his shares to avoid properties being claimed as part of the bankruptcy.

I hope this assists you. If you found this information helpful please provide a positive rating using the stars at the top of this page. I will not be credited for your question without a positive rating. Thank you

Customer: replied 1 year ago.
Would my share of the house also be swallowed up to pay his debts? Any joint debts that don't get settled would they come over to me ?
Expert:  Harris replied 1 year ago.

Joint debts will likely have joint and individual liability, therefore the company can pursue you to settle the debt if they cannot through him.

The bankruptcy rules are complicated and it would depend on how the properties are held. If they are joint tenants the whole property will be pursued. If it is a tenancy in common it would be his individual share which would be assumed at 50% unless there is a formal agreement for unequal shares.

Customer: replied 1 year ago.
Could you explain what that means please as joint tenancy or tenancy in common.
Expert:  Harris replied 1 year ago.

As tenants in common you each own individual shares in the property and you are free to bequeath or sell your share. As joint tenants you both own the whole property and if one of you passes away it automatically transfers to the other and you do not own individual shares in the property.

Customer: replied 1 year ago.
I think we are joint tenants, so that means they will come for the whole house?
Expert:  Harris replied 1 year ago.

If he becomes bankrupt you will both still hold the legal title of the property but the trustees are likely to want to realise their interest and apply for an order for sale to obtain his share of the equity of the property.

Expert:  Clare replied 1 year ago.

My name is ***** ***** i have been a solicitor for more than 30years

In fact once your husband is declared bankrupt the Joint tenancy is automatically severed and you will hold the property as Tenants in Common in equal shares.

You will be given the opportunity of purchasing your ex's share from the Trustee in bankruptcy (or a family member or friend can do so) in order to prevent a sale.

This is not "a risk" it will happen

Customer: replied 1 year ago.
There is a secured loan on the property which he has stopped paying I pay the mortgage which is up to date . Will the secured lender come after me for the money ?
Expert:  Clare replied 1 year ago.

Yes I am afraid you are liable for the secured loan as well