money gift during bankruptcy
May 22nd, 2009 by Questions
If the individual who received a sizeable money gift from his mother during bankruptcy 6 years ago is now discharged, can the money still be seized by the Trustee?
What happens if the bankrupt recipient immediately signs over the cheque to a common-law spouse with a note saying it is a gift and non-repayable? Is the common-law spouse required to give the money back? Or is the recipient on the hook for the amount? Or is it too late for it to be seized?
We`re talking about $40,000.
Posted from: Ontario