Can they take there house?

June 18th, 2010 by Questions

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

Posted from: Ontario


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.

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