Posted on: 09th May, 2006 07:29 pm
hi my husband has a lot of debt and he wants to file a chapter 7 but he owns a home and we we're told we would be asked to sell it to pay off debt.... my question is could he quick deed the house to someone he trust and the house be covered?
hi,
i dont think by doing so he will be able to cover the house. through a quit claim deed, only the interest in the title of the property gets transferred.
the best person to help you out is an attorney.
thanks,
jerry
i dont think by doing so he will be able to cover the house. through a quit claim deed, only the interest in the title of the property gets transferred.
the best person to help you out is an attorney.
thanks,
jerry
hi,
i don't think you can save your property by signing a quit claim deed. a quit claim deed cannot after all transfer the title to the property to another party. it can just transfer the share of interest you have in the property. moreover, a chapter 7 bankruptcy will not allow you to do so, because here all your assets will be enlisted and your debts will be cleared by selling off those assets.
i shall suggest that take advice from a bankruptcy attorney for further clarification, as its legal matter and it concerns your home after all.
know more about quit claim deed and chapter 7 from our resources.
thanks,
caron.
i don't think you can save your property by signing a quit claim deed. a quit claim deed cannot after all transfer the title to the property to another party. it can just transfer the share of interest you have in the property. moreover, a chapter 7 bankruptcy will not allow you to do so, because here all your assets will be enlisted and your debts will be cleared by selling off those assets.
i shall suggest that take advice from a bankruptcy attorney for further clarification, as its legal matter and it concerns your home after all.
know more about quit claim deed and chapter 7 from our resources.
thanks,
caron.
my dad passed away left me adminastrator,want to sell house need silblings to sing quick deed ,can i do it without a lawyer
Hi,
Welcome to MortgageFit forums.
When you sign a deed, it becomes a legal matter and in that case you need the help of an attorney to prepare the paperwork on your behalf. He also guides you as to whether you require a witness for signing the deed or how you can keep a public record of the deed.
But try to find an attorney who can help you in the best way and not just demand charges simply because this is a legal matter.
Regards,
Jessica.
Welcome to MortgageFit forums.
When you sign a deed, it becomes a legal matter and in that case you need the help of an attorney to prepare the paperwork on your behalf. He also guides you as to whether you require a witness for signing the deed or how you can keep a public record of the deed.
But try to find an attorney who can help you in the best way and not just demand charges simply because this is a legal matter.
Regards,
Jessica.
