What happens to the family home during bankruptcy?
The family home and bankruptcy
This fact sheet explains what can happen to a family home when you or a co-owner become bankrupt.
During bankruptcy, one of the most common questions people ask is ‘Will I lose my home if I go bankrupt?’. The answer depends on your individual circumstances. Not everyone loses their home during bankruptcy, but it’s important to be aware of the rules and procedures in place.
This fact sheet covers:
What is bankruptcy?
Under what circumstances will a home be sold in bankruptcy?
What is the process for selling a home during bankruptcy?
Things to be aware of during the sale process
What happens after my home is sold?
What if you the person you co-own a home with goes bankrupt?
