Connecting You with Trusted Licensed Insolvency Trustees – We’re Here to Guide, Not Decide. Learn More

Free Consultation

Landand bankruptcy in Alberta

Can I keep my land I purchased a few years ago and my savings bond if I decide to go bankrupt?

Posted from: Alberta

One Response to “Landand bankruptcy in Alberta”

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

Neither the land you own (assuming you are not living on it) nor your Canada Savings Bond are considered to be exemption assets. As a result, if you file for bankruptcy you will likely lose both of these items. If you are looking to find a way that will allow you to retain potentially the land and the savings bond you may want to consider the filing of a consumer proposal.