HOUSE EQUITY WILL BE DIVIDED ?

February 9th, 2009 by Questions

I have no alternative -just bankruptcy.
I am living in a common in law relationship.
We own a house with some equity.( much less then my debts).
If I go bankrupt ,will be the equity divided 50-50 between my common in law and creditors?

Posted from: Ontario

Questions

One Response to “HOUSE EQUITY WILL BE DIVIDED ?”



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

You are correct, your common law will get their 50% share of the equity and your 50% share will come into the trustee and be divided equally among your creditors.

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