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Co-owning property

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

One Response to “Co-owning property”

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.