Property outside Canada and bankruptcy.
September 10th, 2007 by Questions
I\\”am a citizen of India and a permanent resident of Canada. I own significant value of farmland in India (about 250,000 dollars worth). India has restrictions on sale of inherited farmland (any sibling can oppose , mine will) and capital controls which will make it difficult to sell the property and move the proceeds to Canada.
If I declare bankruptcy in Canada over the 170,000 dollar debt that I have , will I be ineligible for discharge until I overcome the legal hurdles and sell this property (which could take 10 years..)?