QUESTION
Will I loose my house if the note is not in my name during bankruptcy.
Asked on Dec 15th, 2012 on Debtor and Creditor - Vermont
More details to this question:
Ex pays mortgage. I have a quit claim deed. I have unsecured debt from divorce and would like to know if house would be included. He pays the note faithfully.
1 ANSWER
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There are too many different variables to answer the question of what will happen to specific assets, as it currently is asked. It depends on numerous factual issues.
You should consult a local bankruptcy attorney because each state has unique exemption laws and a local attorney can determine what assets can be exempted. Most bankruptcy attorneys offer a free initial consultations to determine if bankruptcy is appropriate.
This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.
Answered on Dec 20th, 2012 at 2:00 PM