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JOINT HOME OWNERSHIP

If I own my home jointly with my spouse and I go bankrupt, how is the home equity calculation effected?

Posted from: Ontario

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One Response to “JOINT HOME OWNERSHIP”

A licensed trustee said...

Once your trustee has calculated the equity in your home the number will then be adjusted to reflect your share of the owenrship. If you own the home equally then it will be split 50-50. If you have different ownership percentages (which you’ll need to prove) your trustee will sue whatever percentages you have.