The house is in Spain at risk?
A member of the family is in deep financial trouble and this week to file for bankruptcy. He has Property in Spain with his former girlfriend This house was purchased by mortgage on his house in the United Kingdom which is now negative equity. Then the construction company in the United Kingdom to take the Spanish house of him to help repay his debt? Will also share responsibility, then go to his ex g / f?
It depends on the terms of its agreement with the bank, and he lied to them when he got the extra money, asked when the bank mortgage on what the money is for, if they didn't say it was for a second property, it has committed fraud if the bank can not include this property as surity on The Mortgage, if they have well and he was honest with them, the bank can take home from the United Kingdom, but it will still owe the bank the balance of the mortgage, if the Spanish House is owned by him and his ex, it holds 50%, it can sell its 50% of his or a third party with his consent to collect the necessary funds, if the house is simply going to be taken thats all they can they cannot take the Spanish house. If he declares bankruptcy 50% of the house will be included in its Spanish heritage can be sold, the former is still entitled to its 50%, but the possibility that it could be stuck with someone she knows not, but it will not be liable for its debts
IVA Advice On 15k+ Debts
