multiple home owners

December 14th, 2012 by Questions

My home is owned by me and my son in law. If I file for bankruptcy will he lose the home?

Posted from: Ontario


One Response to “multiple home owners”

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

This really ill depend on how much equity you have in the home and whether or not you are up to date with your payments. If you have equity in the property then 50% of it will have to be paid in as part of your bankruptcy. This may or may not mean the house is lost, it will really depend on the amount of equity you are dealing with.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)