Thank you for your prompt response to my question about whether my husband's creditors could make a claim on the house I live in.

I have a couple more questions on the same issue:

1. The house has been in my name for only 4 years -- will the trustees assess my husband's share based on the value of the house 4 years ago or on the current value?
2. The debt has not been assessed for my husband yet. The circumstances are that he has been issued a statement of claim but the case has not yet been heard. If I sell my house before the case is heard and the case goes against him, will the creditors be able to claim on the proceeds of the house just as they would have done, if the house had not been sold.

If it has been only 4 years in your name the question now becomes whether your husband was insolvent and unable to pay his debts at the time of the transfer and whether the transfer to you was done to defeat creditors. If it was, then there is a problem. The Trustee would look at the current value of the house. As far as selling your house before the judgment, I'd ask a lawyer for legal advice about the ramifications of doing so. The Trustee may still be able to go after some value.

Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca