Register of Insolvencies
The register of insolvencies is a statutory register about the insolvency of individuals and businesses in Scotland.
What happens to assets after the debtor's discharge?
Bankruptcy does not end with the debtors discharge. The trustee will still have a duty to sell any assets that are transferred to them.
Any assets aquired by the debtor after their discharge will not be transferred to the trustee.
If the trustee recovers all the costs of the bankruptcy and pays all creditors in full, plus interest, and there is money or assets remaining, they will be returned to the debtor.
If the trustee decides that they do not intend to sell the debtors house, either on the open market or privately, they will formally abandon it. Only then is the debtor entitled to sell it. The trustee must make a decision about any property within 3 years of the bankruptcy.