QUESTION
Is it safe to be added to title of home after chapter 7?
Asked on Jun 22nd, 2011 on Bankruptcy - Georgia
More details to this question:
I filed chapter 7 twelve months ago and my wife and I are refinancing our home that we purchased 1.5 years ago. When we purchased the home the title was in my wife and father in laws name because I was in the middle of filing. Is it safe at this point to be re added to title? Can the bankruptcy court try sand levy this property at anytime moving forward after the discharge date?
6 ANSWERS
Bankruptcy Attorney serving Herndon, VA
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Maureen O'Malley
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You should be safe. Except you said "readded." If you took your name off to avoid creditors, it could be seen as fraud.
Answered on Jun 27th, 2011 at 4:47 PM
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As long as a discharge was granted, yes.
Answered on Jun 27th, 2011 at 4:47 PM
If the trustee has filed a no asset report and the court has closed its file, you should be fine.
Answered on Jun 27th, 2011 at 3:57 PM
Bankruptcy Attorney serving Concord, CA
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William Rubendall Attorney at Law
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Once the discharge is entered property reverts to the debtor. The bankruptcy court no longer has control over the property. If you want to refinance the property or change title there is nothing the bankruptcy court has to do to approve or review it.
Answered on Jun 27th, 2011 at 2:57 PM
Glen Edward Ashman
The fact that you are posting here tells us that you filed without an attorney (if you had you would have asked him). The answer is we don't know. Chapter 7 cases often are kept open after the discharge. If you had counsel you would know if it was or was not, and that affects the answer. One way it's no problem and the other it could possibly be one. Whether or not the home has equity and other things also affect the answer. The answer also depends of the source of funds for the home and whether there are sins of omission in the filing.
Answered on Jun 27th, 2011 at 2:21 PM
Bankruptcy Law Attorney serving Campbell, CA
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Ellahie Law Firm
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Hopefully you disclosed your ownership interest in the home. Even though a property is not in your name, if you own it you must disclose it. Failure to disclose has consequences and you should consult an experience bankruptcy lawyer immediately. If you did disclose it, and your debts have been discharged and the case closed (make sure the court has closed the case) then you can proceed with your life.
Answered on Jun 27th, 2011 at 2:21 PM