My house and wife`s bankruptcy
April 12th, 2008 by Questions
I have a house in my name (since 10 years ago) and still i am paying its mortgage. My wife can`t handle her student loan (it is a 10-year-old OSAP loan and I have not co-signed it) and is going bankrupt. Will this affect my house or my accounts in anyway? And actually is there any law in Canada to force a husband/wife to pay for his partner`s financial complications, when he has not cosigned his/her partner`s loans or mortgages? I mean does just having a relationship mean a responsibility?
One Response to “My house and wife`s bankruptcy”
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April 14, 2008 at 6:34 am, A licensed trustee said:
If the house is solely in your name and assuming you and your spouse are not separating, then her filing for bankruptcy should not have a direct impact on your house.
There is no law in Canada that requires you to cover your spouses’ debts.