Posted on: 11th Apr, 2009 12:50 pm
5 years ago my sister and i were put on a warranty deed for our parents home. i'm currently going through a divorce and my wife and i are planning on filing bankruptcy. what affect will our filing bankruptcy have on my parents house if any?
Hi lakesidefoxfarm,
What type of bankruptcy are you planning to file - Chapter 7 or Chapter 13? If you are planning to file Chapter 13, I don't think it would have much effect on your parent's house.
Thanks
What type of bankruptcy are you planning to file - Chapter 7 or Chapter 13? If you are planning to file Chapter 13, I don't think it would have much effect on your parent's house.
Thanks
We were planning on filing Chapter 7.
hi guest!
welcome to forums!
while you are filing chapter 7 bankruptcy, you will have to list all your property. however, as far as i know, there is one notable exception to this rule. if you inherit property within 180 days of filing, that property will be considered as a part of the bankruptcy estate. i would suggest you to speak to a bankruptcy attorney and take his opinion in this issue.
feel free to ask if you have further queries.
sussane
welcome to forums!
while you are filing chapter 7 bankruptcy, you will have to list all your property. however, as far as i know, there is one notable exception to this rule. if you inherit property within 180 days of filing, that property will be considered as a part of the bankruptcy estate. i would suggest you to speak to a bankruptcy attorney and take his opinion in this issue.
feel free to ask if you have further queries.
sussane