The home or other properties
What happens to my property?
Where property in which the debtor has an interest, is the home of the bankrupt and/or family members then complex provisions apply. These govern how and when the trustee can obtain possession, when the trustee loses the right to claim the property for the creditors and how any proceeds of sale should be dealt with. There will often be opportunities for family members to buy the property at a favourable price to reflect their unique bargaining position