Posted on: 04th Feb, 2009 10:15 am
my mother and sister bought a house together. my sister refinanced the house twice and went bankrupt.now she wants my mother to have the house. my mother wants to keep the house.what can my mom do to geep the house?
Hi,
In such a scenario, I think, your sister can quitclaim the property to your mother which will make your mother the owner of the house while removing your sister from the title. However, since you said that your sister has gone bankrupt might make thing a little difficult because quitclaiming one year prior to filing for bankruptcy after might be considered as fraudulent. Also doing the same after having gone bankrupt can be considered illegitimate, provided the property you are about to quitclaim is included in assets listed under bankruptcy.
Thus, I would suggest you to consult an attorney in this regard who can advice you on how to get out of this sticky situation.
Please, do not hesitate to ask further queries, if you have any.
Take care & be happy.
God bless you.
In such a scenario, I think, your sister can quitclaim the property to your mother which will make your mother the owner of the house while removing your sister from the title. However, since you said that your sister has gone bankrupt might make thing a little difficult because quitclaiming one year prior to filing for bankruptcy after might be considered as fraudulent. Also doing the same after having gone bankrupt can be considered illegitimate, provided the property you are about to quitclaim is included in assets listed under bankruptcy.
Thus, I would suggest you to consult an attorney in this regard who can advice you on how to get out of this sticky situation.
Please, do not hesitate to ask further queries, if you have any.
Take care & be happy.
God bless you.