QUESTION

Can I claim a property that was not in my name during my bankruptcy?

Asked on Nov 16th, 2016 on Bankruptcy - Colorado
More details to this question:
I filled for bankruptcy in 2007 and did not list my interest in the property I was living in because it was not in my name. I was advised by my attorney at the time it was not a liquid asset. Now, I find myself needing to file a motion claiming that property because the family member I bought the property with is trying to evict me stating that I have no claim to the property.
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3 ANSWERS

Commercial & Bankruptcy Law Attorney serving Powell, OH at Ronald K. Nims
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What you put on your bankruptcy petition doesn't determine whether you have an ownership interest in the property (although not listing a partially owned property would constitute bankruptcy fraud). Ownership of property is determined by the deed or other documents filed with the county recorder's office.
Answered on Dec 23rd, 2016 at 6:58 AM

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The property (I assume it is real estate) was not a liquid asset-but that has nothing to do with whether or not you list it on the BR papers. If you had any interest at all in the property, you should have listed the property and identify that interest. I don't see why trying to reopen a 9-year-old bankruptcy to list the property will somehow confirm your interest in it. You either had some kind of legal or equitable interest in it, or you did not. Why was your name not recorded as an owner. If the purpose was to evade creditors, then you put yourself at some risk trying to reopen the BR to add more property. Can you contact the previous owners? Perhaps you could reform the original deed. That is not necessarily very difficult. But you would be wise to consult a lawyer well-skilled in both real estate and bankruptcy. It's almost always worth the investment.
Answered on Dec 21st, 2016 at 5:16 PM

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Pay a lawyer for two hours of their time to review the matter with you. Sounds like you have a bit at stake.
Answered on Dec 21st, 2016 at 5:15 PM

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