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Buying back house when bankrupt

PostPosted:Mon Oct 29, 2012 4:25 pm
by Will P
Hello everyone. I have been reading this forum for a while but this is my first post so i hope you will be able to help me. I was declared bankrupt last month and there is equity in my property (joint owned with my wife). If i buy back the equity can I at a later date sell the property or is this still blocked by the official receiver?

Re: Buying back house when bankrupt

PostPosted:Mon Oct 29, 2012 6:21 pm
by Hayden
Hi there Will P and welcome.

If you (or more correctly) a third party buys back the equity in your property from the official receiver then yes, the property is then yours to do with what you like. If the OR has a restriction order against the property (which is likely) then this will be lifted as the OR has no further interest in the property. You can then sell the property when ever you like. The OR will have no power to block the sale.

Re: Buying back house when bankrupt

PostPosted:Wed Nov 21, 2012 7:32 pm
by Steve Jackson
Hello Will P

Hayden is quite right. If your share of the equity in your property is bought back from the official receiver, then they will relinquish their further interest in the property and you can then do with it as you wish.