ex-partner bankrupt - how does this affect me?

[calshan]

Hi,

 

Just after a bit of advice.

I bought a house with my ex a few years ago as an investment, this turned out to be a bad investment owing to the downturn in the property market. We both moved into the house and put it on the market however it did not sell. We split up and i moved out and in 2008, she took the house on with a new mortgage and i signed over the house to her in her name only.

 

I have since found out through the local paper that she must have gone for bankruptcy. Can this affect me? It was my money that went down for the deposit and upgrades to the property, i walked away with no money, no refund on the deposit, only a £2000 3 pc suite. (i was happy to get rid of the house as we had been split up 3 yrs by this point)

 

Can the OR come after me?

 

any advice appreciated!

[uneverdid]

i dont think you will be affected by this if it were the other way round and you had gone bankrupt then the or could of chased your ex for your share of the property because you just signed it over without being paid off therefore you would of had some financial interest in it still. I had to take an insurance policy out to protect me in case my ex went bankrupt. Hope that all makes sense its late

[calshan]

thanks, she verbally wanted me to sign for £15k payment as part of the transfer however, no funds were ever received or confirmed in writing to me. WHen i signed the property over, the section stating payment was left blank.

[uneverdid]

it might be advisable to see if you can obtain a copy of that just to make sure that section is still blank. I really don't think you have anything to worry about though.