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Legal Ease
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Category: Canada Law
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Experience:  Lawyer
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I am a part owner of a condo in Alberta. I live in BC. The

Customer Question

I am a part owner of a condo in Alberta. I live in BC.
The person I am part owner with is facing possible bankruptcy.
If this person files for bankruptcy, are my personal assets at risk?
The assets I am concerned with are a LIRA and RRSP's
Submitted: 6 months ago.
Category: Canada Law
Expert:  Legal Ease replied 6 months ago.
Your personal assets would never be at risk unless you declare personal bankruptcy and, in almost all cases, both LIRAs and RRSPs are not lost if you do declare personal bankruptcy. Let me know if you need any further clarification.

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