Will my wife and I lose our home?

June 10th, 2015 by Questions

My ex and I own a rental property together that is in danger of making myself and her go bankrupt. But my wife and I own a home that we live in. If the worst happens and I go bankrupt, will my wife and I lose our home?

Questions

One Response to “Will my wife and I lose our home?”


June 10, 2015 at 10:00 am, Desmond West-Chow, CIRP said:

It’s difficult to say without knowing more about both of the properties and some of your individual circumstances. It would be best to talk to a local trustee as there are provincial rules that would need to be applied. The local trustee would want to have a more detailed discussion with you about the values of both the rental property and your current home and their respective mortgages as well.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)