0
The answer to this really depends on the nature of the property and how it is held (i.e. tenants in common, joint tenancy). You can file for bankruptcy for your personal debts. If the ownership debt is easily severable then it is likely that you would be able to file for bankruptcy and include the property as well.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
How do you get a copy of your own bankruptcy records in new york?
Contact the clerk for the court your bankruptcy was filed. Bankruptcy documents are available but you will typically be charged a copy fee. The clerk can provide you with this information.
If a property is included in bankruptcy do you still own it until it is foreclosed on?
Yes.
What happens if only 1 person filed bankruptcy and both names are listed on property?
Then only the debtor's interest in the property is considered part of the BK estate. For example, if 2 people own the property, then 50% of the property is included in the BK. If there is enough equity, the Trustee may order the sale of the property in order to pay back creditors.
Is it possible to go bankruptcy only on one of your property if you own several?
No.. bankruptcy when you have many debts and no assets can be liquidated for you to pay your debts..
You own a condo in Florida work in New York and live in New Jersey what state should you file bankruptcy?
Bankruptcy must be filed in the state in which you reside for the majority of the year.
I recently filed for bankruptcy and own a small buisness that I no longer can have/run. One of the companies that I had debt with is now going after my past jobs and putting leans on them to collect money from them. I wanted to know if this is illegal in ?
If you have filed bankruptcy they can not take your property. Depending on whether is was 7 or 13. Chapter 7 gets rid of you debt completely and no one can tough your personal belongings. Chapter 13 is a repayment plan and as long as you make your debt reduction payments they should not be able to take your property.
If you are a title holder of real property but are not on the mortgage loan and or mortgage note of that property can a lien be placed against the real property if you file bankruptcy?
This would be a most uncommon situation...you own the proerty but other people have it mortgaged? Your bankruptcy effects everything you own, not just what you may owe on. Your ownership of this property is included.
Your dad and you own a house together it is your primary residence you file bankruptcy can the courts go after all equity in the house or just your 50 The house has no mortgage on it?
The courts don't go after anything. The bankruptcy trustee will go after any non-exempt property, as is his duty. If you own half the house, you only own half the equity. The next question is whether you and your father have filed homestead declarations, or if you both can. You need to talk to a lawyer in your state.
How much property can a person keep if you file a Chapter 13?
In a Chapter 13 Petition in Bankruptcy, you are allowed to keep all of your property. This is because in a Chapter 13 Petition in Bankruptcy, your Chapter 13 Plan Payment to the Trustee partially depends on the amount of non-exempt assets you own. In other words, although you get to keep all property, the more non-exempt property you own at the time of your filing, the larger repayment percentage you would owe towards your unsecured creditors. I hope that helps. Michael A. Fakhoury, Esq.
Whose responsibility is it when a tree falls on your property?
Nobody is liable for an act of nature. It does not matter who owned the tree. If a tree falls on your house just call your insurance company. If it just fell in your yard and did not damage your property you just have to get it removed yourself. If it's partially on your property and partially on the property of another, then each property owner is responsible for removing that part on their own property.
Has McCollisters Transportation filed bankruptcy?
Although many vendors are holding outstanding receivables and the business does appear very over extended, McCollister's had not filed for Bankruptcy just quite yet. With many of it's own agencies no longer accepting work until previous work has been paid, the future does look ominous.
If you're in Chapter 13 but your 2nd home is excluded can you refinance it without alerting Bankruptcy Court?
No, the second home is is not excluded. Everything you own is part of your bankruptcy estate and is the property of the bankruptcy trustee, including the second home. You would need court permission to refinance either of your properties. To do so you have to bring a motion requesting said permission and showing how the refiance would benefit your creditors over the plan you already proposed. As part of the motion you would have to propose an amended plan that includes the refinance. Since the property is not, due to the bankruptcy, owned by you, you shouldn't be able to refinance it. The tirle company should pick up on the bankruptcy and not allow the refiance. An alternative to getting court permission is to simply dismiss the chapter 13 case and do whatever you want. You have a right to have the case dismissed. You just need to submit the request to the court and wait for the judge to sign off on the dismissal order. I get the impression that you didn't list your second home in the bankruptcy (is that what you mean by "excluded?"). If so, you committed bankruptcy fraud and your bankruptcy case could be dismissed and charges can be filed by the US Trustee, part of the Justice Department. At best the trustee would want you to add the additional property to your papers. Adding the additional property would change your bankruptcy case (assets) and the plan you filed with the court that was determined by your assets and debts.
