Posted on: 29th Dec, 2009 04:26 pm
i own a cabin with my ex-wife (we bought it prior to our divorce, and have kept it in both our names waiting for the market to turn back around). i am experiencing personal financial issue so extreme, that i will need to file chapter 7. i am contemplating quit-claiming the cabin to her, and releasing all interest in the house and its equity...she can have it! how long would i need to wait to file chapter 7 bankruptcy without risking the trustee looking at that transaction? the equity in the cabin is not enough to "right my ship"...and i literally just want my ex to have the home (including the equity) and for her to com out unscathed.
any suggestions?
any suggestions?
hi teebobby!
welcome to forums!
if you transfer a property now, you will have to wait for at least 1 year before filing bankruptcy. if you file bankruptcy immediately after the transfer of property, then it can be considered as fraudulent and the trustee can bring back the property in your estate.
feel free to ask if you've further queries.
sussane
welcome to forums!
if you transfer a property now, you will have to wait for at least 1 year before filing bankruptcy. if you file bankruptcy immediately after the transfer of property, then it can be considered as fraudulent and the trustee can bring back the property in your estate.
feel free to ask if you've further queries.
sussane