• Buying House Owner Going Bankrupt

    By Guest on 27th Aug 2015

  • 1 Answers

    By Guest on 01/09/2015

    There are a few things to consider here. First, make sure you have evidence that you are paying full market value. If you are not then the seller's creditors, via his trustee in bankruptcy, may overturn the transfer up to 5 years after completion. Second, if there is one seller and he actually becomes.bankrupt before completion then the.transfer deed he signs won't be valid and.you'll need one signed by the trustee in bankruptcy to whom.you'll need to pay the purchase price so before exchange do a bankruptcy search against seller and repeat it on the day of completion, only proceeding if both searches are clear. If there are joint sellers note that you'll need to serve notice on the trustee following completion.

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