Alberta Bankruptcy

Author:

Anonymous

Question:

iam a cosigner with my dad on his morgatge abut iam not on the land title proprty if i file bank raputcy it does effect his property thanks

From:

Alger & Associates Inc.

Date:

Dec 14, 2009

Answer:

A Trustee would review the circumstances as to why you would be responsible for the debt but not on title. Generally speaking you do not own the property so it's not an asset but it might create a situation whereby the mortgage company has concerns about your ability to guarantee the mortgage.

Karen Rideout
phone: (403) 296-2973
krideout@alger.ca