Posted on: 29th Nov, 2009 03:14 pm
my stbx filed chapter 7, we are going to be dividing equity in the home, he cant refi now, so what are my options? If I ask for a lien, can he have it removed in his bk that is already filed back in March. Well he have to pay creditors if he sells the home. I think he would stale on the sale if he has to. I dont know what to do to get my money and run.
Hi sunap,
If you put a lien on the property, he can get it removed through chapter7 bankruptcy. Moreover, if he sells the house, the mortgage lender and creditors will have to be paid first. Thus, if there is not much of equity in the property, you hardly seem to be getting your share of the equity when the property is sold. Is your name on the title to the property? If yes, then I think you can consider the option of filing partition lawsuit to get your share of the property. The fact that he has filed bankruptcy might make things a little complicated. You can consult a real estate attorney and see if partition lawsuit can at all be an option for you.
If you put a lien on the property, he can get it removed through chapter7 bankruptcy. Moreover, if he sells the house, the mortgage lender and creditors will have to be paid first. Thus, if there is not much of equity in the property, you hardly seem to be getting your share of the equity when the property is sold. Is your name on the title to the property? If yes, then I think you can consider the option of filing partition lawsuit to get your share of the property. The fact that he has filed bankruptcy might make things a little complicated. You can consult a real estate attorney and see if partition lawsuit can at all be an option for you.