who gets the left over money?

November 12th, 2008 by Questions

if i go bankrupt and there is money left over from the sale of property and my ex common law girlfriend signed as a garranture, do i get the extra money or does she get it.

Posted from: British Columbia


One Response to “who gets the left over money?”

November 13, 2008 at 11:25 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

This would really depend on who was on title. If your ex-common law is not on title she would not get any money from the sale.

Now just to clarify, the only way any money would come out of the bankruptcy is if the property in question is sold, and the proceeds are sufficient to pay the administration costs and all the creditors claims plus 5% interest. Then if anything is left over it would be returned to you.

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