March 18th, 2011 by Questions
If a home is in both spouses’ names and only one spouse declares bankruptcy and the home is sold by the trustee as part of the bankruptcy process,is the spouse who has not declared bankruptcy entitled to her portion of the equity if any after the secured debt ( mortgage ) is paid?
Posted from: Ontario
One Response to “Family Home”
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March 18, 2011 at 6:56 am, A licensed trustee said:
Certainly – in fact, the spouse will be required to agree to and then sign-off on the sale so they should be able to determne just how much they will be entitled to receive.