Before I say anything please don't quote me, I take no responsibility whatsoever for my advice being legally/factually correct.
From what I understand, if she sells her house to you in due to her being bankrupt then when the deeds are released by her then she no longer has any legal hold over the property. If the money isn't enough to cover her debts then if the creditors have this house's address on file and start sending you threatening letters then a phone call to them should be enough or you might have to sign something proving she has no hold on the house.
Like I said earlier when its sold any she had charge over it should be absolved. But still go to CAB, ask sols etc but now you know what you should expect to hear. £60k for a £89k house - buy it, do it up and flog it making about a £40k profit.
Last Edit: Mar 2, 2004 17:07:25 GMT by phil164 - Back to Top
go to your local citizens advice bureau and ask about it. what you'll be wanting to do is check that the house hasnt been used as collatoral as part/whole payment for a loan - this would mean that the company who gave the people the loan own the proceeds from the sale of the property. if this isnt the case my advice is to do what phil recommends above. buy at 65 sell for 90+ then buy another house with the proceeds.