The family home and bankruptcy

This fact sheet explains what can happen to a family home when you or a co-owner become bankrupt.

September 2017

During bankruptcy, one of the most common questions people ask is ‘Will I lose my home if I go bankrupt?’. The answer depends on your individual circumstances. Not everyone loses their home during bankruptcy, but it’s important to be aware of the rules and procedures in place.

This fact sheet covers:

  • What is bankruptcy?
  • Under what circumstances will a home be sold in bankruptcy?
  • What is the process for selling a home during bankruptcy?
  • Things to be aware of during the sale process
  • What happens after my home is sold?
  • What if you the person you co-own a home with goes bankrupt?
Bankruptcy and the Family Home Download PDF (519 KB)

This resource was published September 2017. This is legal information only and does not constitute legal advice. You should always contact a lawyer for advice specific to your situation.

 

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