Can I declare bankruptcy when I own property in another province.

May 9th, 2008 by Questions

If I own a piece of property in Winnipeg, can I still declare personal bankruptcy in Nova Scotia

Posted from: Nova Scotia


One Response to “Can I declare bankruptcy when I own property in another province.”

, Barton Goth GCO Bankruptcy Trustees said:

Yes you can file bankruptcy in Nova Scotia, but there is a good chance that there will be an impact on the property you own in Winnipeg.

The property in Winnipeg will be considered non-exempt, meaning that it is property that you will loose, it will vest in your trustee and willl have to be realized on for the benefit of your creditors. For more information on this you are best to contact a local trustee and discuss the details of the property and what will have to be done with the property directly with the trustee.

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.)