Issue on House

April 23rd, 2011 by Questions

I was wondering my husband is self employed and i work for his business part time the house has been in both our names for the past 7 years, recently we refinanced and du to my low income the house was put in his name only, on the other hand i have an outstanding dept myself only and my name is completley off the house and deed, if i was forced to go bankrupt due to a court order beacuse of this dept could they go after my husband and the house? Or will I be ok and make a deal?

Posted from: Ontario


One Response to “Issue on House”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

This is a very challenging issue that you need to discuss directly with a local trustee. The problem is we have to look at the value of the house and cooresponding financing against it at the time of transfer and when in relation to a bankruptcy this actually took place before we can answer the question with any certainty.

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