Joint equity in home and bankruptcy

July 22nd, 2009 by Questions

My spouse (common law of 12 years) left and took his belongings while I was out of town. He is claiming bankruptcy of approx $175,000.00 Revenue Canada. My question is that we own a home together with joint title. If and when he claims bankruptcy are they entitled to my 1/2 of the equity in the home…seeing as he has left me.

Posted from: Manitoba


One Response to “Joint equity in home and bankruptcy”

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

If his name is still on title then 1/2 of the equity is legally his. This has nothing to do with whether he left or not. So if he files bankruptcy you will likely be in a position where that 1/2 of the equity will have to be dealt with by his trustee.

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