First things first.: you need an experienced bankruptcy lawyer. It's almost always worth the investment. Second, some questions need to be answered. E.g. What is the fair market value of the real estate? What is the value of your share? Is your equity in the house exempt under applicable law? If, as I imagine, your equity is exempt, then you should be able to sell the hours IF 30 DAYS PASS AFTER THE MEETING OF CREDITORS AND NO CREDITOR OR TRUSTEE OBJECTS TO YOUR CLAIM OF EXEMPTION. A meticulous lawyer might very well want to move for 'abandonment' of the property which simply means that the Trustee has no further claim on it and it just reverts back to you. If your equity is sufficiently above the exemption limits, the Trustee could seek to sell the property, give your father his share, give you your exemption amount, and pay the rest over to unsecured creditors. However, very few people have more equity than the law allows, so this is a rare occurrence.
Answered on Jul 21st, 2016 at 11:04 AM