QUESTION
Would it be wise to add my name on the house or me putting my name on the house affect me filing for bankruptcy?
Asked on Apr 09th, 2017 on Bankruptcy - Nevada
More details to this question:
I am in the process of looking to file for bankruptcy but at the same time, my friend and I would like to buy a house. I would become partial owner.
5 ANSWERS
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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Generally, having your name on your residence won't affect filing bankruptcy. Ohio has a $132,000 exemption for equity in your home, so unless you're really putting a lot down, any equity would be exempt.
Answered on Jul 07th, 2017 at 8:01 PM
Not a good idea to do it before you file for bankruptcy.
Answered on Jul 06th, 2017 at 10:41 AM
It would be a bad idea unless there was no equity in the property.
Answered on Jul 05th, 2017 at 7:36 PM
I think it would be alright, although there is not enough information to make that assessment. You would be wise to meet with a lawyer face to face to get your questions answered.
Answered on Jul 05th, 2017 at 7:36 PM
Well then, I guess it would sort of depend on whether you can get the credit necessary to finance the purchase of the house. If you are paying cash for it in order to avoid paying your debts, you need to proceed with extreme caution.
Answered on Jul 05th, 2017 at 7:34 PM