Question Details: I own my own home which I purchased 7 years ago, and for the last 6 months my partner has been living with me. I am currently unemployed so he financially supports me. He is considering going bankrupt due to heavy debts he has incurred. If he does so, could my house be at risk?
Filed under Property Law | 2447 View(s)
There is a chance that your house is at risk if your partner files for bankruptcy. Unfortunately, we cannot provide a definite answer to your question, because we would need to know more information about your relationship with your partner, your mortgage, and the debt that your partner owes.
New Zealand Insolvency and Trustee Service can help you further. They are a government organisation which provides free information to people thinking about declaring bankruptcy. You can phone them for free on 0508 467 658 (0508 INSOLVENCY) or visit their website www.insolvency.govt.nz.
We also suggest that you and your partner talk to a budget adviser: www.familybudgeting.org.nz. They know these processes very well and can support you through them.
Answered 27 Jan 2014. The IMPORTANT NOTICE below is part of this answer.
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