0
If a person filing for bankruptcy is married and the house is in the wife's name does he still have to list the house even if he's not on the deed?
Wiki User
∙ 8y ago
As a general rule if a person's name is not on the title, then they do not "own" the property and it would not be included in BK. However, some community property states have specific laws governing real estate owned by married couples. It would be advantageous to find out the BK laws of the state of residency concerning real property.
Wiki User
∙ 8y ago
Add your answer:
Earn +20 pts
Is a credit line on your house included in bankruptcy?
That is up to the person filing the bankruptcy. You can include or omit any debt that you choose.
If a married couple no longer living together own a house and one files bankruptcy should the person filing bankruptcy surrender the house so other can keep house or will it cause other person to lose?
The party that filed bankruptcy will be protected as far as the collections process is concerned. The bank will in response expect the party who has not filed bankruptcy to make all the remaining payments. If this happens, you may want to consult with a lawyer ASAP so that you are making payments on a house that will be co-owned by an X.
If you are a joint mortgage holder and the other person on the mortgage files bankruptcy how does that impact the mortgage?
The house won't be affected at all UNLESS... The person filing BK is filing it on the house as well whether it be a 13 (repayment) or a chap 7
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.
Your husband is filing bankruptcy and told you he will file on the house it is in both names can he do this without your permission?
Yes
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 long after filing bankruptcy are you able to receive credit cards purchase a house or a car?
2 years
If I filed for bankruptcy months before my house was going to go into forclosure & the bankruptcy was complete,then my house was just about to go into forclosure can I still apply for the Obama mrtge relief plan even though I listed my house in the bnkrpc?
Yes, you can still apply for Mortgage Relief after filing bankruptcy.
Can my house be repossessed if my husband is madebankrupt but is not on the deeds?
Your husband's name is not on the deed, but is he on the loan? If yes, then it cannot be foreclosed and repossessed if the property is listed on his bankruptcy filing, and, as long as his bankruptcy payments are current. If he defaults on bankruptcy payments, then you can lose the property. If he is not on the loan, then your house can be foreclosed and repossessed.
How long does it take for a house to be settled when filing bankruptcy for it to become available for sale?
Your question is somewhat complex, and there may be variations in the process due to laws of the state of jurisdiction for the bankruptcy filing. An excellent primer about either chapter 7 or 13 bankruptcy is "The New Bankruptcy, will it work for You?" 3rd edition by Stephen Elias, published in 2009 by Nolo; 346.078 E42N Dewey decimal. Also you might contact a paralegal or lawyer specializing in filing bankruptcy in the state of jurisdiction.
Can you file bankruptcy if you own your home?
In principle, yes, but it depends on the equity in your home and how much of it you can exempt, as well as the non-exempt equity in all other assets and how much debt, income and expenses you have.
If your friend is on a house loan with you and you pay the payment every month on time but he is filing bankruptcy could they still take the house from you?
The deed to the property is what determines ownership and what action can be taken against the property during bankruptcy or the execution of judgment.
