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quitclaim, BK, California

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Socal1 Guest	Posted: Tue Mar 23, 2010 11:21 am    Post subject: quitclaim, BK, California Like 0 Dislike 0 I am on the deed for a property with no mortgage, jointly with my parents. Although I have been on the title for 30 years I have had no involvement with the condo. No financial gain, no taxes paid, nothing. I am now preparing to file for BK and would like to file a quitclaim to keep the condo with my parents. Is this a reasonable solution? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Tue Mar 23, 2010 10:08 pm    Post subject: Like 0 Dislike 0 Hi Socal! Welcome to forums! You can transfer the property to your parents by signing a quit claim deed. However, you won't be able to file bankruptcy just after the transfer of the property. If you do so, the transfer of the property will be considered as a fraud and the trustee can bring back the asset in your estate. Feel free to ask if you've further queries. Sussane

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