My parents co-own property in Canada with my mother's 3 siblings. Each owns 25%, all are US citizens residing in the US. If one of the co-owners declares bankruptcy in the US, could the court force liquidation of the Canadian property or of their share of that property?
Similarly, if one of the co-owners dies with debt (credit card, mortgage, etc.), could this foreign asset be considered to settle those debts?
I'm Googling it, too, but I trust you guys (and some of the legalese out there is just hard to get through). Thanks in advance for any light you can shed on the subject.