I have 2 properties in joint name with my sister - Property A and property B. Property A housing loan is under both of our names but I am paying for the house installments while Property B housing loan is under my sister's name and she is paying for the house installments.
If my sister does not pay for the house installments for Property B and the property is being 'lelong' (auctioned) and she is being declared bankruptcy..
What will happen to Property A since she is a joint owner? But I am still paying for the house installment. Will Property A be auctioned also if my sister is being declared bankrupt and the proceed from Property B which is being auctioned is insufficient to clear her debt?
What will happen to joint name property when one of the owner goes bankrupt but the other owner still paying the house installment?
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asked on Nov 29, 2019 at 10:23
edited on Mar 21, 2020 at 16:55
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