FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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out of province property

I live in Alberta but own property in B.C. The property is clear title but is owned jointly with my soon to be ex spouse. what would happen in such a situation like this if I were to file personal bankruptcy.

Posted from: Alberta

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One Response to “out of province property”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

As you are not living in the property it would be considered a non-exempt asset. Therefore, if you were to file for bankruptcy your share of the property (50%) would need to be realized on. So this means your equity would have to be sold (i.e. your ex buys it from the trustee) or the entire house would need to be sold as part of the bankruptcy.