VIC Will Husband Buying House from Me Save It from Bankruptcy?

[K1M]

I'm currently bankrupt and my husband wants to buy my house from me for us to keep it. He wants to do this in order to pay out my debt owed to the creditor. Will this work? Will we need to inform the trustee who is in charge of my bankruptcy?

 

[James D. Ford - Solicitor]

Hi Kim

Whilst you are Bankrupt, your Trustee in Bankruptcy has control of your assets (including your home)..

If your husband wants to buy the Property he will need to purchase
it from your Trustee... who will then distribute the proceeds (after costs) to your creditors.

Kind regards