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Joshua
Joshua, Lawyer
Category: Property Law
Satisfied Customers: 29202
Experience:  LL.B (Hons), Higher Prof. Dip. Law & Practice
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I was declared bankrupt in 2010 and discharged in 2011,I had

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I was declared bankrupt in 2010 and discharged in 2011,I had a property which was rented but in my statement to receiver I have informed that I am moving into that property and I moved.Now I found out that my property has been transfered to LTADT.My mortgage term has expired 2 years ago my lender is asking the loan back by 19 july2021.how can I remove this LTADT?
JA: What steps have you taken so far? Have you prepared or filed any paperwork?
Customer: No
JA: Where is the property located?
Customer: Barnet
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: I do not know what else you need
Customer: replied 15 days ago.
Still waiting!!!
Customer: replied 15 days ago.
I was declared bankrupt in 2010 and discharged in 2011,I had a property which was rented but in my statement to receiver I have informed that I am moving into that property and I moved.Now I found out that my property has been transfered to LTADT.My mortgage term has expired 2 years ago my lender is asking the loan back by 19 july2021.how can I remove this LTADT?
JA: What steps have you taken so far? Have you prepared or filed any paperwork?
Customer: No
JA: Where is the property located?
Customer: Barnet
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: I do not know what else you need
Hello,

I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.

I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.

Thank you!
Customer: replied 14 days ago.
Thank you for your swift response.
I will wait for your answer.
Customer: replied 14 days ago.
Any luck?
Customer: replied 14 days ago.
I have not heard any more!!!!
Please update me..

Hello and thank you for your question. My name is ***** ***** I will be very pleased to assist you. I'm a practising lawyer in England with over 15 years’ experience. Please be aware that although I will endeavour to reply to you promptly, I am also in full time private practice and so I may not be available to respond immediately and it may also take me a few minutes to prepare a reply. The site will notify you as soon as I respond. I look forward to working with you to answer your question fully.

May I ask if you were living in this property as your main residence at the date the bankruptcy order was made please?

Customer: replied 13 days ago.
Hi Joshua
Thank you for your response.
I was not living in this property at the date I was declared bankrupt.I had a Tranent.I have stated in my statement to the I will move into my property as soon as she vacate and I did,since that time I am paying my mortgage and now the term has expired since 2 years my lender has ask my to pay back the outstanding amount by 19/07/21.I am 69 years old man with medical condition.I have no money to even move out.Please help me.This the only asset I have.
Please reply soon.
Thank you

Thank you. Have you confirmed with the Trustee in bankruptcy that he is willing to treat the property as your family home? The requirements of the Insolvency Act are that at the date of your bankruptcy order to be treated as the family home it must have been the sole or principal residence of yours, your spouse or former spouse. Were any of these the case?

Customer: replied 13 days ago.
I will go through my statement again and come back to you.

Thanks. I look forward to hearing from you further.

Customer: replied 13 days ago.
Hi Joshua
Please find attached page from my statement. Please read the last paragraph.if you need further information please let me know.
Thanks
Customer: replied 13 days ago.
I have mentioned that I will move in it.

thank you. The intention to move into a property is not definitive in and of itself. As above, the insolvency act provides that your family home is that home which is your sole or, as I believe would be the case here, your principal place of residence at the time the bankruptcy order is made. if I understand your circumstances correctly, at the time the bankruptcy order was made, you owned at least two properties and lived in a property other than the property which is the subject of this question.

If that is the case, do not see how you will obviously deem the property which is the subject of your question to be your family home. Obviously, if you have further information which is pertinent in this respect, I will be pleased to consider it.

If that is the case, then the house in question does not benefit from the three-year rule which requires the insolvency practitioner to either deal with the property within three years or return it to you. If you are not able to avail yourself of this benefit then the property would remain part of your bankrupt estate rather than belonging to you and there will be no obligation on the part of the trustee to return it to you under the above three year rule. It would be open to you in those circumstances to negotiate with the trustee to buy back your share which you may be able to negotiate at a below-market price on the basis that it would avoid the trustee the costs of a potential forced sale on his or the lenders part.

I hope the above is of some assistance but if you have any further questions, please revert to me

Joshua, Lawyer
Category: Property Law
Satisfied Customers: 29202
Experience: LL.B (Hons), Higher Prof. Dip. Law & Practice
Joshua and 3 other Property Law Specialists are ready to help you
Customer: replied 12 days ago.
Dear *****
I did not own 2properties.
I had only one property which is*****I bought my flat with a residential mortgage with Intelligence Finance.
I then had temp Tenants in the property, after which I moved in the flat. I was myself renting other property that’s why I mentioned that I will move into my residential home.I was not informed of my rights that I can buy back my property.It’s came to my knowledge in 2019 When I tried to sell my flat before that receiver has no communication at all with me.
My argument is, why did the receivers write to me to explain the situation in 2021?
I feel I have been treated unfairly ,due to their negligence of not informing me.Please try to help my.

thank you for the clarification. On that basis, if you can demonstrate that the property was your sole residence at the time the bankruptcy order was made, even if you did not live in it, you can seek to have the property restored under section 283A Insolvency Act 1986. You can contact the trustee in bankruptcy and refer them to section 283 a subsection 2 and ask that the trustee transfers your interest back to you under the above authority.

https://www.legislation.gov.uk/ukpga/1986/45/section/283A

If the trustee is slow to do so or refuses (the latter would be exceptional) then ultimately an application to court can be considered

Customer: replied 12 days ago.
Thank you so much for this information, at least there is light at the end of the tunnel. I have no words to thank you. Can I request if you could act on my behalf please ? Let me know how much you charge and also where you are based so perhaps we can have a meeting? I will feel more comfortable if my case is handled by a professional such as yourself. Thank you again Joshua.

thank you for your above enquiries. Unfortunately, I am not permitted to accept client referrals from customers of this website. You would need to consider seeking local representation if you wish to appoint a solicitor to represent you in this matter

Customer: replied 12 days ago.
Sorry to hear that.
Do you think if I can contact trustee myself and explain to them about sec 283A.

yes this would be quite normal in the first instance. Trustees are usually cooperative in this respect in any event.

Customer: replied 12 days ago.
Thank you again.
Would you be kind enough to look at my letter to trustee before I send it to them.

I would be very happy to. As this goes beyond the scope of the terms of service offered by this website, we may need to agree a fee as a premium service in this respect but providing you are content in this regard, as above, I am very happy to do so

Customer: replied 12 days ago.
Great!
How much will you charge and what will be included in it. Could you correct the paragraph and amend it.

if you would like to upload the letter in question once you have repaired, I will be happy to provide you with a quote in this respect

Customer: replied 12 days ago.
Thanks!

A pleasure

Customer: replied 7 days ago.
Please find draft letter in the next message which I will send to the trustees’ representative.
Once again many thanks for your input. Let me know how much will it cost if you feel you want to make amendments in order to make it more professional?
Warmest Regards
Mansoor

This letter essentially looks ok.

Customer: replied 6 days ago.
Thanks!

All the best