October 13th, 2011 by Questions
If I own my home jointly with my spouse and I go bankrupt, how is the home equity calculation effected?
Posted from: Ontario
October 13, 2011 at 5:08 am, A licensed trustee said:
Once your trustee has calculated the equity in your home the number will then be adjusted to reflect your share of the owenrship. If you own the home equally then it will be split 50-50. If you have different ownership percentages (which you’ll need to prove) your trustee will sue whatever percentages you have.
Log in to Reply
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)
You must be logged in to post a comment.