Section 261(3)

The following shall be inserted after section 313 of that Act— This section applies where— property comprised in the bankrupt’s estate consists of an interest in a dwelling-house which at the date of the bankruptcy was the sole or principal residence of— the bankrupt, the bankrupt’s spouse, or a former spouse of the bankrupt, and the trustee applies for an order for the sale of the property, for an order for possession of the property or for an order under section 313 in respect of the property. The court shall dismiss the application if the value of the interest is below the amount prescribed for the purposes of this subsection. In determining the value of an interest for the purposes of this section the court shall disregard any matter which it is required to disregard by the order which prescribes the amount for the purposes of subsection (2).

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Source: legislation.gov.uk · retrieved 2026-09-04