Hello,
1) If you file for bankruptcy, the Trustee will take on a one-half interest in the home given that you had a one-half share previously. If there is equity in the home, you may be able to buy back this equity in a monthly payment. If the equity is substantial, the house could potentially be sold by the Trustee, however, this can be complicated given a limited one-half interest. If there is no equity and you have a mortgage on the property, you would just continue making the monthly mortgage payments as bankruptcy does not interfere with a secured creditor. As you can see, there are a number of variables to consider.
2) Income tax debt is discharged or forgiven in bankruptcy.
Brad Milne, CIRP
Trustee in Bankruptcy
Brandon, Manitoba