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Bankruptcy Calgary Edmonton Q&A Forum

Question:

 

If a company has a title claim on a property (life lease registered in first position), that has 100% of the equity owing to the resident and not the company. And if the comapny goes bankrupt, how is this removed from the title.


From:

 

Grant Thornton Limited

Date:

 

Nov 10, 2015

Answer:

 

Hi Neil, I am not sure if the registration of the life lease would be removed in a bankruptcy. The Trustee would review the effect of the life lease on the title and the equity available. Please contact our office to discuss the life lease and how a bankruptcy may affect the real property.

Susan Methuen
T 403-310-8888
susan.methuen@ca.gt.com

 

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