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In Alberta, in a bankruptcy, you are entitled to keep the equity in your principal residence, including a mobile home, up to a value of $40,000. If you are a co-owner of the residence, the amount of the exemption is reduced to an amount that is proportionate to your ownership interest. In a bankruptcy, if you have non-exempt equity in your home, you may be able to make arrangements with the Trustee to repay this equity. Please contact our office or, if you are not in Alberta, a Trustee in your area of residence, to discuss your situation and options.
Vanessa Grant
phone: (403) 296-2977
If you wish to talk to one of the Calgary bankruptcy professionals at Alger & Associates Inc., you can call us TOLL FREE from anywhere in Alberta at 310-8888. After hour appointments at our Calgary bankruptcy offices are available.
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