Mortgage taken out by Parents
November 26th, 2009 by Questions
My daughter is going into bankruptcy. I took out a mortgage, about 5 years ago, on my house to help her out. The Funds were given to her. We have an agreement that she would pay the monthly payments. She has now filed for bankruptcy.
What will happen to this mortgage? Are my wife and I responsible for this mortgage and the payments? The agreement was made at home, on plain paper, and not through any legal form.
Posted from: British Columbia