threatened in ont.

October 12th, 2005 by Questions

i have a very big problem? My common law is telling me he is going to file personal bankruptcy?i along with my mother owned home prior to our relationship but has past away.In order to pay estate he and i took out a new second and ist mort.so he is on tittle now I have app. 30,0000.00 +left in equity.Truck is in my name he is co signer.if he files how will this effect me?

Questions

One Response to “threatened in ont.”



, Barton Goth, GCO Inc. Bankruptcy Trustees said:

If your husband files bankruptcy and is listed on title to the property, his portion of the equity (i.e. 50%) will have to be realized by the bankruptcy estate. While the trustee could technically force the sale of the house there is also the possibility of taking out a mortgage for your husband’s share of he equity and submitting the monies directly to the trustee’s office.

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