NSW How will Declaring Bankruptcy Affect Life Estate?

[scooby doo]

Hi

I have been left a life estate. I have the right to be the tenant and to rent out the property as long as I pay the insurance and maintain it. Also, I have the option to give up my life tenancy at any time in exchange for $100k.

How would me declaring bankruptcy affect this?

Thanks

 

[Sophea]

It will depend on the terms of the life estate for a start, but I believe the trustee may be able to use it as an asset to generate funds for the bankruptcy