Question: My spouse and I are separated, he is claiming business and personal bankruptcy, the only thing left in both our names is the house which is currently up for sale, what happens to me? Do I lose the house and contents?
Answer: If the house is currently up for sale, presumably at some point the house will be sold. Since the house is owned jointly by both of you, the proceeds from the sale will be split equally between you and your husband. If your spouse is bankrupt, his share will go to his trustee.
If you own items in your house, they remain your possessions; your husband’s bankruptcy doesn’t impact on your possessions.
More details can be found in this article on how a bankruptcy affects a spouse.
Tags: bankruptcy Ontario, spouse