Benchmark Solicitors LLP

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Bankruptcy and the Family Home

Bankruptcy & Insolvency

What happens to the family home if someone is made bankrupt?

The bankrupt’s share of the family, along with all of their other assets, is passed to the Official Receiver (or Trustee in Bankruptcy if one is appointed). The bankrupt will be entitled to enjoy their share of the family home unless they are excluded from it.

When can a bankrupt lose their enjoyment of the family home?

The Official Receiver must wait one year after the date of the bankruptcy order before applying for its sale.

How does the bankrupt lose their enjoyment of the family home?

The Official Receiver makes an application to the court for an order for possession and sale to be granted against the bankrupt, and any other occupants (if appropriate). Any applications will need to demonstrate that substantial assets will be recovered upon any sale of the family home.

Is there a time limit after which the bankrupt gets to keep the family home?

Yes, unless the Official Receiver starts any action seeking an order for sale within three years from the date of the bankruptcy order then the bankrupt’s share in the family home reverts back to the bankrupt (subject to a number of other issues applying).

How can Benchmark Solicitors assist?

Applications seeking possession and sale of the family home usually prompt the bankrupt into seeking an order annulling their bankruptcy. An annulment application based upon the debts and expenses of the bankruptcy having been paid necessitates the Official Receiver or Trustee in Bankruptcy’s fees to have been paid in full. We can assist in applying to annul a bankruptcy or applying to challenge a trustee in bankruptcy’s fees.

Property Solicitors Central London

Benchmark Solicitors LLP is a Central London based law firm specialising exclusively in land and property related disputes.  Our team of experienced property dispute lawyers are based in Temple just moments from the Royal Courts of Justice.

Our Expertise

Our solicitors only specialise in civil dispute resolution (commonly referred to as litigation). Our team have particular expertise in claims involving property repossessions and tenant evictions, landlord and tenant disputes, bankruptcy and the family home and investment property (including foreign property investments).  Given our proximity to the Royal Courts of Justice and Central London County Court we are able to offer competitive rates for agency advocacy services.

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Our Advantages

Highly specialised legal services: property litigation and insolvency/bankruptcy litigation.

Close knit team: clients get combined experience.

Location: Temple, near leading courts.

Fixed Fee Initial Meeting

We offer a fixed fee no obligation sixty minute meeting for us to provide you with initial advice and direction. Contact us via the contact form, email address or telephone for more information as to how we can help you begin to resolve your dispute today.

Keeping in Touch

Post: The Gate House, Cliffords Inn Passage, Clifford’s Inn, London EC4A 1BL

Tel: 0203 405 4540

Email: [email protected]

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