Posted on: 13th Apr, 2010 08:33 am
I am in the middle of a divorce and my husband and I agreed that any bills in his name he take and any bills in my name I take. We have only been married for two years. We have purchased a piece of property since we've been together that he actually has been paying for but it is in both our names. I have agreed to give him the property and he will take my name off the loan and deed as there is not much equity if any in it. I know after the divorce is over i will have to file bankrupcy as my bills exceed way over my income. I will be giving up the house too that is in my name only so I can find a more affordable place. Will me giving up that property to him effect my chapter 7 bankrupcy? Or a 13 if I can affored it?
Hi lorip,
There are chances that your transfer of property to your husband may affect your bankruptcy filing. Transfer of property just before the bankruptcy filing will be considered as fraudulent and you can be penalized for it. Before transferring the property, I would suggest you to contact a bankruptcy attorney and take his opinion in this regard.
Thanks
There are chances that your transfer of property to your husband may affect your bankruptcy filing. Transfer of property just before the bankruptcy filing will be considered as fraudulent and you can be penalized for it. Before transferring the property, I would suggest you to contact a bankruptcy attorney and take his opinion in this regard.
Thanks