Posted on: 03rd Jul, 2011 11:03 am
hi,
i am considering quit claiming a piece of property over to my son that is just in my name (not my husband's). very simple, but my husband and i may have to consider filing bankruptcy in the next year do to another job lay-off. how would this quit claim effect that?
i am considering quit claiming a piece of property over to my son that is just in my name (not my husband's). very simple, but my husband and i may have to consider filing bankruptcy in the next year do to another job lay-off. how would this quit claim effect that?
Hi debdauber,
You can quitclaim the property right now to your son. You won't be able to file bankruptcy within the next 1 year of your property transfer. After 1 year is over, you can file bankruptcy. It may not affect your property transfer then.
Thanks
You can quitclaim the property right now to your son. You won't be able to file bankruptcy within the next 1 year of your property transfer. After 1 year is over, you can file bankruptcy. It may not affect your property transfer then.
Thanks
Thank you. That is how I'm understanding it from what I'm reading.