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Quitclaim prior to bankruptcy - How does it affect?

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Harrison Guest	Posted: Tue Aug 03, 2010 12:44 pm    Post subject: Like 0 Dislike 0 I am in the process of filing chapter 7 bankrupcy and I am also in a troubled marriage. First question is since my name is not on the deed to the house, it is in her name can creditors go after the house. Secondly, if divorce happens and I sign a quit claim deed where does this leave me with any rights to the house or the appraised upgraded value?
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Tue Aug 03, 2010 11:07 pm    Post subject: Like 0 Dislike 0 Welcome Harrison, As your name is not on the property deed, your creditors won't be able to go after that property to recover their dues. As your name is not on the deed, you won't have to sign the quit claim deed in case of a divorce. _________________ Procrastination is the enemy of your financial success
mischa Guest	Posted: Thu Aug 12, 2010 9:45 pm    Post subject: quict claim Like 0 Dislike 0 I have 2 propertis in my name. 1 of the home is going into foreclosure. i want to protect my primary home. What is the best step for me to take to avoid loosing my primary home. i was thinging of doing a quick claim to a family member or file chapter 7 and exempt the property.
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Thu Aug 12, 2010 11:44 pm    Post subject: Like 0 Dislike 0 Welcome mischa, Your query has been replied to in the given page: http://www.mortgagefit.com/propertytransfer/about42230.html#176934 Take a look at it. I hope it'll help you. _________________ Procrastination is the enemy of your financial success
Martha S Guest	Posted: Mon Aug 16, 2010 2:44 pm    Post subject: quit claim plus bankruptcy Like 0 Dislike 0 I would like to quit claim my 2 paid properties and an unpaid mortgage to my daughter and considering bk I have $50,000 Cred card dept and one upside down property getting me more in dept can I do this
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Aug 16, 2010 11:34 pm    Post subject: Like 0 Dislike 0 Hi Martha! Welcome to forums! Filing bankruptcy immediately after a property transfer will be considered as fraudulent by the lender. You can be penalized for the action. You need to wait for 1 year after property transfer and then file bankruptcy. Feel free to ask if you've further queries. Sussane
Tamar Guest	Posted: Thu Aug 19, 2010 5:32 am    Post subject: Minor corretion to my Question: I move out ~ 1 yr ago Like 0 Dislike 0 My Chapter 7 was Discharged about 9 months ago. My husband will be filing for Chapter 7 himself. He just moved out of our house and I moved out out 2 years ago and have been renting ever since. After his Chapter 7 Discharged he wants to Quick Claim the deed (of our jointly owned house) to me. We are both on Deed and were both on mortgage but of course my debt to mortgage was wiped out with my BK. The house is under foreclosure but apparently it will take the about 1 or 2 years for the property to be seized. Instead of finding somewhere new to live (my lease will expire in less than a week and the owner of the place I’m renting doesn’t want to extend my lease because he wants to move back in here.) If I move into house until it is taken, are there any repercussions to me because I live in the house and I accepted the Quick Claim deed from my ex-husband?
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Thu Aug 19, 2010 11:35 pm    Post subject: Like 0 Dislike 0 Welcome Tamar, There won't be any repercussion if you move into the property. However, if your husband surrenders the property to lender, then the lender may not allow you to live in that property. _________________ Procrastination is the enemy of your financial success
gwen Guest	Posted: Fri Aug 20, 2010 11:16 am    Post subject: can i quickclaim a deed Like 0 Dislike 0 can i quickclaim deed my house to my neice while a .out standing gas bill is due
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Sun Aug 22, 2010 9:32 pm    Post subject: Like 0 Dislike 0 Welcome, Though there's an outstanding gas bill, you will be able to quit claim the property to your niece. _________________ Procrastination is the enemy of your financial success
Merdy Guest	Posted: Mon Aug 30, 2010 6:11 am    Post subject: Quitclaim property Like 0 Dislike 0 My sister and I own a home together that we inherited. My husband and I are in deep financial straigts and have judgements against us. My sister wants me to quit claim the inherited property to her so that if we sell it the property will not be intangled in legal problems. My husband and I owe my sister alot of money that quit claim of the above property would cover. Is this legal, or will it be a sticky situation?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Tue Aug 31, 2010 12:37 am    Post subject: Like 0 Dislike 0 Hi Merdy! Welcome to forums! As you already have a judgment against you, it won't be a good option to transfer the property to someone else. You should contact a real estate attorney and he would let you know whether or not it would be a legal transaction. Feel free to ask if you've further queries. Sussane
cherie Guest	Posted: Tue Oct 12, 2010 4:33 pm    Post subject: bankruptcy Like 0 Dislike 0 my brother and i cowned ahome together for 18 years he and his family live there i do not and he completely pays the mortgage. he has recently refinanced and i quit claimed the deed over to him. i am in a financial mess and need to file bankruptcy is this possible. i live in massachusetts
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Tue Oct 12, 2010 11:25 pm    Post subject: Like 0 Dislike 0 Welcome cherie, Transfer of property just before bankruptcy filing can be considered as a fraudulent act. You will have to wait for at least a year and then file bankruptcy. You can even contact a bankruptcy attorney and take his opinion in this matter. _________________ Procrastination is the enemy of your financial success
arny bacal Guest	Posted: Fri Nov 12, 2010 11:52 am    Post subject: qiitclaimdeed Like 0 Dislike 0 if i turn the house back over to the mortgage co will i still owe if they can't get what is owed.

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