Posted on: 11th Apr, 2010 11:46 am
i got divorced in december 2009 and my name is still on the mortgage. i'm very seriously considering filling bankruptcy this month, 4/2010. my ex-wife did not refinance the house and now she wants me to sign a quit claim. should i do that? by me not doing so, would bankruptcy effect the house? and if i sign a quit claim will i lose out on any monies due to me if she sales or refinance? please help!
Welcome wejam,
As you are planning to file bankruptcy, I don't think it would be a good option to transfer the property to your ex-wife. The trustee can consider this as fraudulent and the property will be included in your bankruptcy estate. In case, you transfer the property to her, you should file your bankruptcy at least a year later. Nevertheless, I would suggest you to contact a bankruptcy attorney and take his opinion in this regard.
As you are planning to file bankruptcy, I don't think it would be a good option to transfer the property to your ex-wife. The trustee can consider this as fraudulent and the property will be included in your bankruptcy estate. In case, you transfer the property to her, you should file your bankruptcy at least a year later. Nevertheless, I would suggest you to contact a bankruptcy attorney and take his opinion in this regard.