Q&As

Does the equity of exoneration apply to a spousal family home where the bankrupt is the sole registered owner of the property?

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Produced in partnership with Caroline Clark
Published on LexisPSL on 15/08/2018

The following Restructuring & Insolvency Q&A produced in partnership with Caroline Clark provides comprehensive and up to date legal information covering:

  • Does the equity of exoneration apply to a spousal family home where the bankrupt is the sole registered owner of the property?

Does the equity of exoneration apply to a spousal family home where the bankrupt is the sole registered owner of the property?

The equity of exoneration is a legal term that may apply when one person (A) gives security for their spouse's (B) debt by granting a mortgage for B's debt over property that is jointly owned by A and B. If, when B has been made bankrupt the property is sold by the trustee in bankruptcy in order to repay B's debt then, if the equity of exoneration

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