lien on house being sold for amount of mortgage
March 31st, 2007 by Questions
I recently filed for bankruptcy . I owe Canada Revenue and they put a lien on the property before I filed. What will happen? The house is being sold for the amount of the mortgage so I will not receive any profit. Will the purchasers have to pay the lien off first ? Am I still responsible for it? I have no money to pay anything,will Revenue Canada allow it to be on the bankruptcy list? I have income from the last tax return and it is about the same amount as the lien, I know they will claim it, but I owe them more than that and they are on the bankruptcy list for the total I owe. What happens to the lien? Can I still sell the property? Please help.