Joint property for non-filing spouse
January 10th, 2012 by Questions
I have a complicated question and I would really appreciate if you would answer this for me. I would help me alot!
My husband and I have a house.
We have separated in the past year, although neither one of us has filed legally for separation. After he left, he stopped paying his share of the mortgage on the house. My adult son has been helping me pay for the full mortgage every month since then.
My question is – if my husband files for bankruptcy, would I be able to pay his half of the equity to keep the home under my name? Or would my husband be able to sell his share of the home to my son, who has been helping pay his share of the mortgage anyway, to pay his creditors prior to filing for bankruptcy.
If he files for bankruptcy, and we are separated, would the trustee offer me to buy out his share of equity? and would buying out his share of equity mean that I can be the sole owner of the house.
Please advise! I am in desperate need of advise in order to try and secure my future.
Looking foward to your response.
Posted from: Ontario