QUESTION
How can I protect my real estate assets if I have to file personal bankruptcy?
Asked on Apr 16th, 2013 on Bankruptcy - Indiana
More details to this question:
I have a rental home that appears in my name, and free & clear on public records. Actually I owe a mortgage that is undocumented because that private party wants it that way for their own estate planning. How can I protect this "free & clear" property if I have to file personal bankruptcy? I am self-employed. Thank you.
2 ANSWERS
Divorce and Family Law Attorney serving Hillside, IL
Partner at
The Law Office of Vincent C. Machroli, P.C.
1 Award
Bankruptcy is a complicated area of law & not easily explained. A skilled bankruptcy attorney would need to discuss this matter with you in greater detail, & ask you many questions, before he/she could give you the proper legal advice you seek (& possibly a quote to represent you).? Schedule a consultation ASAP. Once the matter is resolved to your satisfaction, you'll be glad you paid the money to hire an attorney & properly protect your legal rights.
Answered on Apr 22nd, 2013 at 8:39 PM
the property that you can keep in bankruptcy depends on the exemptions that are available to you when and where do you file. Exceptions differ from state to state.
Answered on Apr 17th, 2013 at 10:50 PM