bankrupt in alberta

Can my husband and I each have $40,000. worth of equity in our pricipal residence?

Posted on Thursday, October 22, 2009 | Filed under: Bankruptcy
 posted by Questions @ 10:46 am 1 Comment
1 Expert Comment:

 At October 23, 2009 | 2:03 pm , Bart Goth, Trustee in Bankruptcy Said...

The Civil Enforcement Act of Alberta, which is the legislation that permits the exemptions, stipulates that you are only allowed to have up to $40,000 per residence and your share of the exemption is based on your proportional share of the ownership. So if a house is jointly owned you are looking at $20,000 each.

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