Posted on: 19th Mar, 2010 08:51 am
We live in CA. My husband may be filing Chapter 7 and we will foreclose our home as well. He was added to the deed of the house his mother lives in a couple of years ago. His brother is the owner of the house and is the one on the loan. My husband has never paid into the loan.
My husband would like to take his name off the deed to his brother's house. Is Quitclaim appropriate here? Is there a period within filing of Quitclaim that would prevent his from filing for Chapter 7?
My husband would like to take his name off the deed to his brother's house. Is Quitclaim appropriate here? Is there a period within filing of Quitclaim that would prevent his from filing for Chapter 7?
Hi Spring,
Your husband can file a quit claim deed and remove his name from the property deed. However, once he transfers the property to his brother, he should not file bankruptcy within a year. If he does so, the transfer of the property would be considered as a fraud.
Your husband can file a quit claim deed and remove his name from the property deed. However, once he transfers the property to his brother, he should not file bankruptcy within a year. If he does so, the transfer of the property would be considered as a fraud.