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bankruptcy!! will it affect the house in my name?

bankruptcy!! will it affect the house in my name?

Didn't find your answer?

* Situaion 1: If I am in a partnership business.

* Situation 2: If I was the director and shareholder of a LTD company.

Most Importantly, I am looking into Partnership.

Thanks for reading.

Regards,

MSB

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By anthonymellor
17th Jun 2011 20:17

yes and no

generally

1 yes

2 no - unless personal guarantees

Anthony

 

 

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By bernard michael bayly
18th Jun 2011 10:54

Bankruptcy

Your question is not totally clear If you are made bankrupt all assets in your ownership form your estate and pass to the Trustee in bankruptcy.He will not necessarly seize them dependant on the circumstances.

Your trading position  ( partnership or director) is irrelevant if you are bankrupt

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