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Can you claim a house as an asset in bankruptcy if it were awarded to your ex?
Wiki User
∙ 11y ago
If the house was awarded to your ex in a divorce, but the title (deed) has not changed, you would have to list it, probably in the Statement of Financial Affairs, and explain the situation. The trustee will want to see the divorce court order.
Wiki User
∙ 11y ago
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Can a quit claim deeded house be repo'd if the old owner files bankruptcy?
This is a common question, especially when done as a form of asset protection. The ability for the bankruptcy courts to bring the real estate asset into the proceedings will depend on a few factors. A few of those being if the asset was transferred less then 12 months prior to the bankruptcy, do the "old owners" still live in the property, and/or if there is a mortgage or other debt for which the property is subject to. Lastly, there are some people that attempt to quit claim property as an attempt to hide or shelter assets, both in bankruptcy and divorce matters, and if the courts suspect such they can create a hold new legal problem for both the "old owners" and the new deed holder.
If ex filed bankruptcy and my name isn't on the loan for the house can they evict me if the house was awarded to me in divorce and ex signed the quit claim deed?
Someone has to pay for the house. You don't get it free. Usually, your ex would re-sign the loan papers. If he doesn't, he won't have to make payments. You'll get a notice of foreclosure and eventually have to move.
If your house is paid for will you lose it if you claim bankruptcy?
yes another answer: you can't lose your primary residence; also - homestead it.
Is it a requirement to list your house as an asset when filing for chapter 7 if there is no equity in it?
When filing for bankruptcy, you must list any assets you own regardless of their value.
How soon after Chapter 7 bankruptcy can you have the title to a house or condo given to you?
Why should you get the title? If the debt is secured by the condo or house, you cannot get a discharge of that debt unless you surrender the asset in the chapter 7.
Can you claim a chapter 13 bankruptcy if you have any equity in your house?
Yes. That is probably one of the times this would be the correct Chapter to use.
Can you file bankruptcy on a home equity line of credit and keep the house?
You file bankruptcy as an individual. It involves everything you owe and everything you own. You cannot file bankruptcy for only one loan The bankruptcy process can exempt certain assets from the process. Some debts may not be cleared. A debt secured by a specific asset has first call on the funds from the sale of the asset. If the sale fails to pay all that is owed, the additional amounts can be claimed as unsecured debts owed. If you want to know more about bankruptcy in your state and how you may be able to protect your primary residence you should consult with a bankruptcy attorney.
Can I keep my house and car out of a bankruptcy?
You are normally allowed to keep the house you are living in and one car in a bankruptcy.
Can a hospital take your home if your deceased spouse owes bills?
It is entirely possible that they can place a lien on the house. The hospital is entitled to place a claim against the estate and its assets. If the house is an asset, they can attach a lien to it to get their money.
Can you file bankruptcy on your house if already in foreclosure?
Filing for bankruptcy may enable you to recover your house from foreclosure. However the bankruptcy would entail dealing with your entire debt situation, not just the house.
Is a house a liquid asset?
no
Can you fiance a house after bankruptcy?
Yes, 3 years after discharge of the Bankruptcy.
