Image from Google Jackets

Three-year window for trustees to act

By: Series: Estates Gazette ; (0433) 14 August 2004, 68-69(2)Publication details: 2004Subject(s): Summary: Explains new rules introduced under the Insolvency Act 1986 s283A which trustees in bankruptcy must follow when handling jointly owned property. Discusses the importance of the three-year rule, which forces the trustees to deal with any interest,held by the bankrupt in a home which was his or her sole or principal residence, of the bankrupt's spouse or former spouse within a period of three years beginning with the date of the bankruptcy. Explains the steps a trustee must take to comply with the rule.

Explains new rules introduced under the Insolvency Act 1986 s283A which trustees in bankruptcy must follow when handling jointly owned property. Discusses the importance of the three-year rule, which forces the trustees to deal with any interest,held by the bankrupt in a home which was his or her sole or principal residence, of the bankrupt's spouse or former spouse within a period of three years beginning with the date of the bankruptcy. Explains the steps a trustee must take to comply with the rule.