Tenant declared bankrupt

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My tenants are a husband and wife, who have paid their rent on time and are continuing to pay on time. The AST (RLA standard form) is in their joint names and runs until 24/11/08.

I have received a letter from the Insolvency Service informing me that the husband has been declared bankrupt on 5/2/08. They have requested a copy of the AST and if I have taken any action to terminate the lease.

I note from the AST that I can reposses in these circumstances. However, they have proved excellent tenants and I do want to retain them, as long as they pay their rent. I have noted that the rent now comes from the wife's bank account rather than his.

Please would you advise what action I should take to protect my rights and do I need to cooperate with the Insolvenct Service. If I do, then what are the implications.

Thank you

Graham Ltaham

01/03/2008 00:00

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