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If you are planning on filing bankruptcy without your spouse should you take your name off the mortgage by refinancing the home in just your spouse's name before filing?
Wiki User
∙ 18y ago
I am the one who wrote this question, and now I have an answer that I will share. I spoke to our attorney, and the answer to the above question is NO, absolutely not, as the court will view this as a transfer of assets and you could be charged with fraud.
Wiki User
∙ 18y ago
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Can you file bankruptcy on your deceased spouses debts?
No.
Does bankruptcy affect both spouses in Minnesota?
Bankruptcy has some effect on both spouses regardless of where they live. Unless the two spouses have taken great care to ensure that their assets are entirely separated from one another, then there is likely to be some part where the spouse will be financially affected by a bankruptcy. For details you should contact a Minnesota bankruptcy lawyer (see related links). They will be able to provide specific information about how a spouse could be affected by bankruptcy.
Can a lien be put on your spouses home if your names not on the mortgage?
Yes.
Can a Bankruptcy Court Trustee force a same-sex partner to provide information about his income?
Only if they are legally married. Effective June 26, 2013, same-sex spouses are treated the same as opposite-sex spouses under federal bankruptcy law.
Can my spouses' chapter 7 bankruptcy affect my inheritance?
No, unless you both filed a joint BK petition.
When refinancing mortgage do both spouses have to be on mortgage in TN?
If both are on the deed then both must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure.If both are on the deed then both must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure.If both are on the deed then both must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure.If both are on the deed then both must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure.
Wifes assets if you file bankruptcy?
if your legally married when you file bankruptcy, you must include every single asset including the spouses. depends on what type of bk you file. you may be able to keep your assets.
While separated can one spouse refinance a mortgage without the other as long as both their names are on the deed?
The original deed of trust contains the names of both husband and wife. This is a Joint Tenancy Deed ... no changes can be made without the consent of both parties, and that includes refinancing. One or the other spouses will need to "buy out" the other's interest and gain sole ownership before attempting this.
Is it illegal to mortgage your spouses' retirement?
This is their retirement, not yours. It is for retirement and so you would need to evaluate if you are considering something that will contribute to their wellbeing.
How will your ex-spouse's bankruptcy affect you if you had a joint mortgage which you are still responsible for?
Spouse's bankruptcyIt can. Since even a quit-claimed mortgage loan continues to show on your personal credit report, it MAY get a notation "included in bankruptcy" (if it was included). This will cause you problems because creditors will be looking at Your public records trying to justify that notation.Keep track of your credit. Yours is one of the few situations where inserting a consumer statement onto the bureaus would be a good idea.More input from FAQ Farmers:I think it's important to understand that you are talking about two different things: (1) ownership, and (2) liability. Signing a quitclaim deed means you transferred ownership of the property to your ex-spouse, so the deed will only be in your ex-spouse's name, but this in no way transfers your liability on the mortgage document to your ex-spouse. The mortgage lender will still hold you both responsible for the mortgage regardless of whose name is on the deed since both of your names are still on the mortgage document. And, even if the divorce court ordered one spouse to be responsible, in Indiana at least the mortgage lender can normally still sue both spouses if there is a default on the mortgage. I'm only licensed in Indiana, and if you were in Indiana, my guess is that if your ex-spouse filed bankruptcy on the mortgage, the fact that you quitclaimed the house will not stop the mortgage lender from pursuing you for payments. Of course, different things might happen in different states since each state has their own laws on the subject. Please keep in mind that this in no way constitutes legal advice but is just my take on the hypothetical facts.More information:Secured debt, such as a mortgage loan, will not be included in the bankruptcy. If the mortgage loan is still in joint names with your ex-spouse, she will remain liable for the debt, and jointly responsible for its repayment.
Will your ex-spouses bankruptcy affect you?
If she is discharging debts that were joint or she was required to pay as part of the divorce, you bet it affects you. The creditors will look to you for payment of the full amount due.
What is the California bankruptcy exemption for tools of trade?
Single exemption $6,075, if both spouses are employed in the same occupation then the amount can be doubled to $12,150. http://www.bankruptcyaction.com/caexemptions.htm
