Short answer. Yes. Under Article 2239 of the Civil Code, an insolvent co-owner's undivided share or interest in co-owned property is included among the assets taken by the insolvency assignee to pay the insolvent's creditors. Only that co-owner's undivided share is affected — your own share is not reachable by their creditors.
What the law says
his undivided share or interest therein shall be among the assets to be taken possession of by the assignee for the payment of the insolvent debtor's obligations
Civil Code, Article 2239 — Free Property of the Insolvent. Read the full provision →
What Article 2239 provides
Article 2239 covers co-owned property expressly. When one of the co-owners becomes an insolvent debtor, "his undivided share or interest therein shall be among the assets to be taken possession of by the assignee for the payment of the insolvent debtor's obligations." The insolvency assignee — the official appointed to collect and liquidate the insolvent person's assets — can reach into co-owned property to the extent of the debtor's share. Co-ownership does not shield an insolvent person's interest from their creditors.
Your share is not affected
The critical protection in Article 2239 is in how it is scoped: it is his undivided share that is seized, not the entire co-owned property. As a solvent co-owner, your share remains yours. The creditors of your co-owner have no claim against the portion you own. What changes is that the assignee steps into the insolvent co-owner's position and becomes, in effect, a new co-owner alongside you — holding the insolvent's undivided interest on behalf of the creditors until it can be sold or otherwise liquidated to pay the debts.
The practical impact on your co-ownership
Once the assignee takes over the insolvent co-owner's share, you may find yourself co-owning the land with an unfamiliar party — the assignee, or eventually a buyer at an insolvency sale. This person has the same rights that the insolvent co-owner had: the right to use the property, to demand partition, and to share in fruits and rents. You and this new co-owner may not agree on how to manage the property. Demanding partition may be one way to separate your share definitively, though the timing and mechanics of partition in the middle of insolvency proceedings can be complicated.
Acting early matters
If you learn that your co-owner is facing financial trouble before formal insolvency proceedings start, it is worth understanding your options. A voluntary partition between you and the co-owner, while they are still solvent, converts the undivided share into a defined separate parcel. Whether that partition could later be challenged as fraudulent depends on the circumstances — particularly whether it was done to defeat legitimate creditors. Any significant step at this stage should be considered carefully, as acting too late, or in a way that appears designed to evade creditors, carries its own risks.