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Bankrupt

Can you keep a piece of land when going bankrupt

Posted from: New Brunswick

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One Response to “Bankrupt”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

Only if it falls into the available exemptions in your province. In New Brunswick there are no exemption provisions that related to property of any kind, so if you filed a bankruptcy the piece of land would have to be realized on by your trustee.

Now this doesn’t mean you can’t purchase this asset back from the bankruptcy estate, but you would need to discuss the details of that directly with a local trustee .