Is a bond an exempt asset

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Is a bond an exempt assetIs a bond an exempt asset in bankruptcy?  I have a bond in both my name & my daughter’s name.  Do I lose that in Bankruptcy? I live in New Brunswick.

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Yes, you would lose this in a bankruptcy because bonds are not exempt from seizure in a bankruptcy.  However, It may be that the bond is 50% owned by your daughter, in which case only 50% on the bond belongs to the trustee.

You may be able to keep your portion of this asset in a consumer proposal.

Alternatively, you can elect to “buy” it back from the trustee.

Yours truly,

Earl Sands, LIT

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