Advertisement

What will happen to joint name property when one of the owner goes bankrupt but the other owner still paying the house installment?

232 Views  ⚫  Asked 1 Year Ago
asked on Nov 29, 2019 at 10:23
by  
edited on Mar 21, 2020 at 16:55
 
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?
0 had this question
Me Too
0 favorites
Favorite
[ share ]

Know someone who can answer? Share a link to this question via email, Twitter, or Facebook.


You must log in to answer this question.

Not the answer you're looking for? Browse other questions by category or search to find answers.