Hi,
If someone is declared bankrupt in Britain and has a house repossessed in Spain, can the Spanish bank still pursue them for any money still owed after the house has been sold at auction?
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Hi,
If someone is declared bankrupt in Britain and has a house repossessed in Spain, can the Spanish bank still pursue them for any money still owed after the house has been sold at auction?
Dear Sir/Madam,
You would need to ask this question to a UK solicitor as it pertains to UK law.
Yours faithfully,
OK - just thought it might help a lot of people out, if it's possible to declare bankruptcy in Britain.Quote:
Originally Posted by Lawbird Lawyer
So many people seem to be having to leave their homes in Spain but still have the threat of being pursued for any money outstanding, after their home gets sold at auction.
If the Spanish banks aren't prepared to re-negotiate the terms of the mortgage then there's absolutely no way out unless British bankruptcy law can help.
I believe Spanish creditors can lodge the debt against UK assets, following EU laws, but can not force the sale of the property, particularly if it's mortgaged already.
Again, a UK lawyer is much more qualified to give a technical reply to this isssue than myself as I'm only qualified on Spanish law.
It's a very widespread problem, I receive an average of 4 queries a day only on this matter.
Yours faithfully,