Legal Question in Bankruptcy in Australia

Will She Lose Her House
Hello,
My sister recently became engaged. Now she is moving away with him. He is leasing a dairy and has borrowed a large amount of money to set up. If things go bad and he looses everything, can the bank take her home (which she owns)to help recoup costs.

Many thanks, worried sister

Asked on 1/06/04, 12:31 am

Tim Wishart McMahons National lawyers

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Re: Will She Lose Her House

There is insufficient information to answer.

Is your sister a party to the loan? Did she guarantee her fiance's obligations? Did she provide a mortgage over her home to support the borrowings?

If no to all of the above it is unlikely that the bank could take her home - unless she does some or all of the above in the future.

But, as I say, you have not provided sufficient information to give an accurate or definite answer.

Answered on 1/06/04, 12:38 am

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