own a cndo in the US
January 26th, 2009 by Questions
I have 2 properties jointly owned with my spouse,with one propperty in the US. Will we have to sell both properties, even though I am the only one persuing bankrupsy. There is little equity,if any in the US property and only about $15,000 of equity in the Nfld. property Thanks
Posted from: Newfoundland and Labrador
One Response to “own a cndo in the US”
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.
January 26, 2009 at 10:16 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
Selling the property is one option but the other is you provide your share (i.e. 50%) of the non-exempt equity into your bankruptcy trustee. IF this is done then you can retain the US properties. But as you can see this can be a somewhat confusing issue so I suggest you contact a local trustee to discuss this in more detail.