Question: My husband’s name is not on the title of our house but the mortgage is in both our names. If he declares bankruptcy, would it affect our house if his name is not on the mortgage?
Answer: If your husband does not own the house, the house is not an asset of his, so it would not form part of his bankruptcy.
There are two other points to consider:
First, if he transferred his interest in the house to you recently, that would have an impact on his bankruptcy.
Second, it is possible that his bankruptcy may impact your ability to renew the mortgage when it comes up for renewal in the future.
Before deciding if bankruptcy is the correct option, we suggest you consult a bankruptcy trustee for a no obligation initial consultation.