Signing Quit Claim deed after filing Chapter 7 bankruptcy

kathrynjean707 · Joined: 30 Aug 2008 Posts: 1 1.50 Dollars($)

In early 2007 my
ex- husband decided he wanted our house sold and the court ordered us to put it on the market. It has so much pest damage that it wasn't selling. Because the house wasn't selling, my ex then decided he wanted to buy out my part of it from me. As of August 18, my ex and have a court order for a settlement offer for him to buy out my part of the house from me. He tried to get a loan and found out that he couldn't get enough money to pay off his bills plus buy the house from me. My attorney told me that he and I can agree on a "note" where he'd make payments to me with 10% interest for the money that he owes to me.
As it turns out, yesteday my ex informed me that he is going to buy the house from me and that I will have to sign a "quit claim".
I declared bankruptcy (Chapter 7) on July 14. I do not know if I should sign the quit claim or not. I did not want him to end up with the house, I had hoped to sell it to someone else if I can't continue to live here, but I currently have no employment. Thank you. Kathy

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jameshogg · Posted: Mon Sep 01, 2008 1:43 am Post subject: RE:

Hi kathrynjean,

Welcome to forums.

Can you tell me what debts are included in the bankruptcy? I mean do you have a mortgage, which is included in chapter 7? if not, then your home could be safe. And you could sign on a quitclaim deed. But I would advise you to discuss upon any further legal implications with your attorney.

Thanks

Caron · Posted: Mon Sep 01, 2008 5:59 am Post subject: RE: quitclaim after bankruptcy

Hi,

You're not signing the quitclaim deed in order to protect your home from creditors. So, even if you have declared bankruptcy, I don't think filing a quitclaim deed and conveying your part of property to the ex-husband will affect you in any way.

Good luck

jheard · Posted: Mon Sep 01, 2008 8:37 am Post subject:

You have a very serious legal issue. Consult with your family law and bankruptcy attorneys.

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