UK Bankruptcy And Purchase Of Interest In Property
I am just coming to the end of my 3 years UK bankruptcy. At the start of the bankruptcy the administration was handed over to a trustee who put a caution (or a 2nd charge) on my deeds. My father then negotiated and purchased the interest in my property for 2.500 UKP. The contract he has is entitled 'Deed of release and assignment', and quotes section 306 of the insolvency act. The trustee has passed the administration back to the receiver now, but the receiver has no record of the purchase of interest and the caution from the trustee is still in place, - in addition to the 'inhibition' placed by the receiver. I have contacted the trustee who can not remember the details of the caution. He has asked me to ask the mortgage company to send him copies of the caution/2nd charge. Q: I am interested in selling my property to release capital to support me as a mature student in university. I am totally unfamiliar with the terminology and implications of these processes. Please could someone advise me what to do - to ensure the equity remains mine and can not be claimed by the receiver?
I am in a position that the reciever has put a caution on my property, i am due to become discharged in 5 months (i part own it with my wife) the reciever is now saying i must value the house and my wife can "buy it back". Out of interest HC, I know your father bought your share for £2500, was this exactly the equity what was in the house or did your father make them an offer of £2500.00 if it was an offer what was the original value of equity asked for by the reciever
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