Houses And Bankruptcy

2008-11-19

Hello, If title to the house is in another person's name, it would not be considered an asset in your bankruptcy estate.  For example, if your wife owned the house before you met and you simply moved into her residence this should not be an issue. At the same, one must be very careful about transactions occuring before bankruptcy.  For example, you cannot transfer title to another person simply to protect it from your creditors in a bankruptcy.  Such a transaction may be investigated and reversed by the bankruptcy trustee. Brad Milne, CIRP Trustee in Bankruptcy Brandon, Manitoba

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