Spouse and Bankruptcy

Hi there,

Just wondering if the Alberta $40,000 exemption of home equity applies when there is another person on the mortgage title?

Posted on Tuesday, March 3, 2009 | Filed under: Bankruptcy
 posted by Questions @ 3:56 pm 1 Comment
1 Expert Comment:

 At March 4, 2009 | 8:39 am , Barton Goth, Trustee in Bankruptcy Said...

The $40,000 equity exemption is per house and is divided by the total number of people on title. So essentially you and your spouse each are able to claim a $20,000 exemption.

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