Posted on: 24th Jan, 2011 09:42 am
i have a piece of property that is paid off. it is just land, we do not live there and there is no home on it. it was purchased with the understanding it would stay in the family. i am now forced to file bankruptcy. can i quitclaim this property to my adult child before filing bankruptcy?
Hi smithfamily!
Welcome to forums!
It will be considered as fraudulent if you quitclaim the property to your adult child just before filing bankruptcy. Even though you transfer the property, you will have to wait for at least a year before you could file bankruptcy.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
It will be considered as fraudulent if you quitclaim the property to your adult child just before filing bankruptcy. Even though you transfer the property, you will have to wait for at least a year before you could file bankruptcy.
Feel free to ask if you've further queries.
Sussane