Q&As

Where a bankrupt’s home is being sold with the bankrupts agreement without an order for sale and the bankrupt is the registered owner, does the bankrupt need to sign the sale agreement and TR1 as well as the trustee?

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Published on LexisPSL on 12/12/2016

The following Property Q&A provides comprehensive and up to date legal information covering:

  • Where a bankrupt’s home is being sold with the bankrupts agreement without an order for sale and the bankrupt is the registered owner, does the bankrupt need to sign the sale agreement and TR1 as well as the trustee?
  • Owner’s powers

For the purposes of this Q&A, we have assumed that the bankrupt was the sole legal owner of the property. Where an individual is declared bankrupt and a trustee in bankruptcy has been appointed, the registered property owned by the individual automatically vests in the trustee. See section 306 of the Insolvency Act 1986 (IA 1986) which states:

‘306 Vesting of bankrupt's estate in trustee

  1. the bankrupt's estate shall vest in the trustee immediately on his appointment taking effect or, in the case of the official receiver, on his becoming trustee.

  2. where any

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