Posted on: 05th Jan, 2006 03:29 am
my husband is in deep debt and we have a house together. he is planning to file for bunkrupcty but before doing that he is planning to do a quit claim on our property to me. i have excellent credit and i dont want to file for a bunkruptcy. is it good move for him to do a quit deed then fiile for bunckruptcy? how will it affect me?
Welcome Harrison,
As your name is not on the property deed, your creditors won't be able to go after that property to recover their dues. As your name is not on the deed, you won't have to sign the quit claim deed in case of a divorce.
As your name is not on the property deed, your creditors won't be able to go after that property to recover their dues. As your name is not on the deed, you won't have to sign the quit claim deed in case of a divorce.
I have 2 propertis in my name. 1 of the home is going into foreclosure. i want to protect my primary home. What is the best step for me to take to avoid loosing my primary home. i was thinging of doing a quick claim to a family member or file chapter 7 and exempt the property.
Welcome mischa,
Your query has been replied to in the given page:
http://www.mortgagefit.com/propertytransfer/about42230.html#176934
Take a look at it. I hope it'll help you.
Your query has been replied to in the given page:
http://www.mortgagefit.com/propertytransfer/about42230.html#176934
Take a look at it. I hope it'll help you.
I would like to quit claim my 2 paid properties and an unpaid mortgage to my daughter and considering bk I have $50,000 Cred card dept and one upside down property getting me more in dept can I do this
Hi Martha!
Welcome to forums!
Filing bankruptcy immediately after a property transfer will be considered as fraudulent by the lender. You can be penalized for the action. You need to wait for 1 year after property transfer and then file bankruptcy.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Filing bankruptcy immediately after a property transfer will be considered as fraudulent by the lender. You can be penalized for the action. You need to wait for 1 year after property transfer and then file bankruptcy.
Feel free to ask if you've further queries.
Sussane
My Chapter 7 was Discharged about 9 months ago. My husband will be filing for Chapter 7 himself. He just moved out of our house and I moved out out 2 years ago and have been renting ever since. After his Chapter 7 Discharged he wants to Quick Claim the deed (of our jointly owned house) to me. We are both on Deed and were both on mortgage but of course my debt to mortgage was wiped out with my BK. The house is under foreclosure but apparently it will take the about 1 or 2 years for the property to be seized. Instead of finding somewhere new to live (my lease will expire in less than a week and the owner of the place m renting doesnt want to extend my lease because he wants to move back in here.) If I move into house until it is taken, are there any repercussions to me because I live in the house and I accepted the Quick Claim deed from my ex-husband?
Welcome Tamar,
There won't be any repercussion if you move into the property. However, if your husband surrenders the property to lender, then the lender may not allow you to live in that property.
There won't be any repercussion if you move into the property. However, if your husband surrenders the property to lender, then the lender may not allow you to live in that property.
can i quickclaim deed my house to my neice while a .out standing gas bill is due
Welcome,
Though there's an outstanding gas bill, you will be able to quit claim the property to your niece.
Though there's an outstanding gas bill, you will be able to quit claim the property to your niece.
My sister and I own a home together that we inherited. My husband and I are in deep financial straigts and have judgements against us. My sister wants me to quit claim the inherited property to her so that if we sell it the property will not be intangled in legal problems. My husband and I owe my sister alot of money that quit claim of the above property would cover. Is this legal, or will it be a sticky situation?
Hi Merdy!
Welcome to forums!
As you already have a judgment against you, it won't be a good option to transfer the property to someone else. You should contact a real estate attorney and he would let you know whether or not it would be a legal transaction.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As you already have a judgment against you, it won't be a good option to transfer the property to someone else. You should contact a real estate attorney and he would let you know whether or not it would be a legal transaction.
Feel free to ask if you've further queries.
Sussane
my brother and i cowned ahome together for 18 years he and his family live there i do not and he completely pays the mortgage. he has recently refinanced and i quit claimed the deed over to him. i am in a financial mess and need to file bankruptcy is this possible. i live in massachusetts
Welcome cherie,
Transfer of property just before bankruptcy filing can be considered as a fraudulent act. You will have to wait for at least a year and then file bankruptcy. You can even contact a bankruptcy attorney and take his opinion in this matter.
Transfer of property just before bankruptcy filing can be considered as a fraudulent act. You will have to wait for at least a year and then file bankruptcy. You can even contact a bankruptcy attorney and take his opinion in this matter.
if i turn the house back over to the mortgage co will i still owe if they can't get what is owed.
Hi arny!
Welcome to forums!
Though you give back the property to the lender, you will still remain the owner of the mortgage. In such a situation, the lender will come after you to recover the balance amount resulting from the sale of the property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Though you give back the property to the lender, you will still remain the owner of the mortgage. In such a situation, the lender will come after you to recover the balance amount resulting from the sale of the property.
Feel free to ask if you've further queries.
Sussane