Bankruptcy and inherited property

[lotaloving]

A friend of mine owns a third share in a property inherited from his parents.

The other two shares are owned by his sisters.

My friend rents the property from his sisters.

He has a large debt which arose when his previous house was re-possesed and there was a shortfall upon its sale.

He is probably going to have to go bankrupt as he cannot pay the debt.

He wants to know what will happen to the house if he is made bankrupt. Can his creditors force the property to be sold?

[Nibbler]

Re: Bankruptcy and inherited property

The Official Receiver or trustee will decide how they will deal with his share in the property, not creditors. That could be via a forced sale, but there are other options, say if his sisters or someone else is prepared to buy his share back.

See: http://www.bis.gov.uk/insolvency/per...bankrupts-home