What happens to my home’s equity if I sell it after declaring bankruptcy?

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What happens to my home's equity if I sell it after declaring bankruptcy?What happens to my home’s equity if I sell it after declaring bankruptcy?  I am a co-owner of our principal residence in Saskatchewan. What happens to the equity in the house if it is sold after I file bankruptcy?

There would be approx $30,000 equity between two of us. My co-owner is not declaring bankruptcy.

Do I have to turn over my share of equity to the bankruptcy trustee?

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You are entitled to the equity in the home as set by Saskatchewan’s bankruptcy exemptions:

https://bankruptcycanada.com/saskatchewan-bankruptcy-exemptions/

Since your home’s equity is below the equity set by your province you can keep your equity of $15,000.00.

As a courtesy, please keep the trustee up to date with your plans.

Yours truly,

Earl Sands, Licensed Insolvency Trustee

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