Questions And Answers
Question on Property after divorce with charges against it?
asked by Carly Devon posted 2 Years ago at 10:06
My ex-husband was willing to transfer our property into my name only but I have just found out that we cannot do this as the property has various charges against it following his bankruptcy some years ago. I know I will not be able to sell the property because of this but I would like to either rent it out or borrow against it to buy another property in my own name.Will either of these options be possible?
1-1 of 1 Answers
Stephen Pett answered 2 Years ago at 12:20, last modified: 2 Years ago at 14:56You won't be able to borrow against it, and you should check out what the charges are - they may be so massive that you never have any hope of reaching break even. Were you aware the charges were being made, and do you own the house jointly as full owners or as co-owners who each own half? If the later you might be better off selling rather than half of your payments paying down his debts. Suspect you need proper advice - try CAB
About Q&AGet your questions answered by a unique network of professionals and fellow consumers for free. Share your knowledge and experiences by answering other consumer questions from the Total Investor community.
- General Topics
- Finance & Mortgage
- Wealth Management
- Retirement Planning & Annuities
- Offshore, International & Expat
- Estate Planning
- Group & Corporate Business
- Campaign Board
- Lifestyle & Planning
- Legal Matters
- Tax & Accounting Matters
- Property Matters
- General Insurance