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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Can they take there house?

My question is If somone dies during bankruptsy Can they Take there House?

Posted from: Ontario

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One Response to “Can they take there house?”

A licensed trustee said...

If some one files for bankuptcy and they have equity in their home then an amount equal to the equity must be paid to the trustee (for the benefit of their creditors) or the house will be seized and sold. If the person that died hasn’t paid for the equity yet then the trustee will probably have to seize and sell the house…

If this is not a “hypothetical question” then you should contact the trustee handling the file.