QUESTION
Can I remove my spouse's name from a property and then file bankruptcy?
Asked on Feb 23rd, 2016 on Bankruptcy - Ohio
7 ANSWERS
There are many things someone CAN do, but it sounds like what you are asking is if it is OK to defraud creditors by giving away your property. Google REAL HOUSEWIFE'S BANKRUPTCY to see how many of these gals wound up going to PRISON believing that their celebrity status made them immune to the law. And take a look at the provisions of the UNIFORM FRAUDULENT TRANSFERS ACT as well. Prison is not the fun it sees to be on TV.
Answered on Mar 18th, 2016 at 5:30 AM
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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Generally not a good idea as it may be considered a fraudulent conveyance.
Answered on Mar 18th, 2016 at 5:29 AM
Not a good idea. Meet with a lawyer face to face to discuss your personal situation. Be prepared to pay an experienced BK lawyer for one hour of their time. It will pay big dividends, I can assure you.
Answered on Mar 18th, 2016 at 5:29 AM
No, there is a look back period so you can not do that.
Answered on Mar 18th, 2016 at 5:29 AM
Bankruptcy Attorney serving Hampton, VA
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Haven Law Group, P.C.
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The Bankruptcy rules have a look back period of two years prior to filing a bankruptcy. So any transfer would have to be disclosed if it took place two years prior to filing of your case. It could jeopardize your Bankruptcy case from being successful. You need to consult with an attorney for more specifics. Good Luck.
Answered on Mar 18th, 2016 at 5:27 AM
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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This is much more complicated than it may appear. The short answer is No, because you would be reducing the property potentially available to your creditors. You should retain a skilled bankruptcy lawyer to advise and represent you. It's almost always worth the investment. And in light of what you are considering, it is even more important to help keep you out of needless trouble.
Answered on Mar 17th, 2016 at 4:31 AM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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So you're putting the property in your name, then you're going to file bankruptcy. This isn't against bankruptcy law but if she has creditors, it won't protect the property from them. Any gifts can be taken by creditors up to 4 years after the date of the gift.
Answered on Mar 17th, 2016 at 4:30 AM