Jurisdiction(s):
United Kingdom

Bankruptcy asset vesting: practitioner checklist of what does and does not vest in the trustee in bankruptcy, with statutory and case authorities

Published by a LexisNexis Restructuring & Insolvency expert

Checklists

Asset Vests in the trustee in bankruptcy?

The bankrupt’s (their family’s) primary/sole residence: Yes (but only for a limited period). It falls into the bankruptcy estate for three years starting on the date the bankruptcy order is made. Reference: IA 1986, s 283A.
Freehold property: Yes. Any interest the bankrupt has in land vests in the trustee in bankruptcy. Reference: IA 1986, ss 283(1), 436.
Leasehold property: Varies. Save for a few exceptions, leasehold interests vest in the trustee; certain statutory tenancies are excluded by IA 1986, s 283(3A), though the trustee can still claim them by serving a notice. Reference: IA 1986, ss 283(1), 283(3A), 308A.
Money/cash: Yes. Any money or cash held when the bankruptcy order is made forms part of the estate and vests in the trustee. Reference: IA 1986, ss 283(1), 436.
Pensions: No (mostly). The bankrupt’s pension rights do not vest if: (i) the petition was presented on or after 29 May 2000, and (ii) the pension scheme is approved.

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Web page updated on 20/05/2026

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