Mortgage property and bankruptcy
November 3rd, 2011 by Questions
My partner and I purchased a house in joint ownership a number of years ago. We subsequently contracted a joint second mortgage. When we ended our relationship he kept the house and made mortgage payments. I moved and paid rent ever since – approximately 7 years now. I signed bank papers for a waiver of my part of the ownership and mortgage(s) and he was to file them with the bank. That never happened. Now we have each been served with court documents demanding settlement of the outstanding balance. Am I still responsible and will filing for bankruptcy remove me from any responsibility and have the mortage revert solely to him, or am I still wholly or partially responsible until the claim has been settled?
Posted from: Ontario