Co-owning property

October 14th, 2013 by Questions

My husband co-owns a piece of property in New Brunswick that was left to him and his brother after their mother died. Can this be seized if my husband were to declare bankruptcy in Ontario?

Posted from: Ontario

Questions

One Response to “Co-owning property”



October 14, 2013 at 6:44 pm, A licensed trustee said:

Definitely – assuming it has any equity, if your spouse files for bankruptcy then whatever the fair value of his share of the property is will have to be paid into his bankruptcy or the trustee will be required to contact the other owner and arrange to sell the property.

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