October 2nd, 2012 by Questions
I am bankrupt and my wife has a house in her name, if we sell a piece of the property must we declare those funds on our Surplus Income statement?
Posted from: British Columbia
October 02, 2012 at 5:43 am, A licensed trustee said:
We receive more than a dozen e-mails everyday like this one – from people that have already filed and are working with a trustee. In these cases you should be speaking to your trusteee – they are being paid to assist you…
To answer your question, your wife may do as she wishes with the things she owns – like selling a piece of land. It should not be considered income and so will not be subject to the surplus income rules, assuming she is not bankrupt herself.
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