Bankruptcy and property

[Jux]

I am asking for a friend, so don't know too many details, but....

They are looking at possible bankruptcy. They own a property in France. It is not in a habitable state and might be worth say 70K but that's probably pushing it.

They own no other property, rent here. If they were to have to declare bankruptcy, would they be forced to sell their French property? How would it be affected, or would it simply not count?

The temptation is to not declare it, but I'm not sure that's a good idea, particularly as my friend says there are pictures and references to it all over her social media.

House part of assets and will be sold to pay off debts in the same way as other assets
Not a good idea to try and hide it as this could lead to bankruptcy period being extended
And it probably will come out as they go through bank statements etc
Only thing is that with a difficult to sell asset like this it is more likely that it can be bought out at a low value

The asset is definitely included in the bankruptcy and will need to be declared. The principal is that you don't get to shed you debts and keep your stuff

Not declaring property when you file for bankruptcy is a criminal offence under the Insolvency Act.

Thanks to you both. As it happens, they have not had to worry. Something about something being found to be vexatious so they're in the clear.