force to sell house

[flakey1965]

Hi im writing this for a friend, from Scotland
My friend has spilt up with her husband and they have a mortgage in both names, they have 3 children 2 under the age of 16, her husband is in debt , debt that he has accumulated since he left the family home , although he hasn't paid any of the mortgage for 18 months he is thinking of going bankrupt, he has told me friend that unless she buys him out of the mortgage he will go bankrupt and she will have to sell to pay of his creditors, so my question is this can she be force to sell and if he goes bankrupt

cheers

[FlamingParrot]

Re: force to sell house

Hi im writing this for a friend, from Scotland
My friend has spilt up with her husband and they have a mortgage in both names, they have 3 children 2 under the age of 16, her husband is in debt , debt that he has accumulated since he left the family home , although he hasn't paid any of the mortgage for 18 months he is thinking of going bankrupt, he has told me friend that unless she buys him out of the mortgage he will go bankrupt and she will have to sell to pay of his creditors, so my question is this can she be force to sell and if he goes bankrupt

cheers

Hi and welcome to LB!

If he goes bankrupt, she will be fully liable for any JOINT debts, however, if the debts are in his SOLE name, then she'd have nothing to do with those debts.

If the property is jointly owned, the official receiver is only entitled to the beneficial interest or share of the property owned by the bankrupt, usually considered to be 50% of the equity. The joint owner or family and friends can make an offer to the official receiver to buy out his share of the equity.