Legal Question in Bankruptcy in California

Bankruptcy

My husband wants to file chapter 7 as an individual. We purchased a house during our marriage but the house was put into my name last year. Equity is about $700,000. Does the trustee still considered half the equity in this house even though title is in my name? Would husband qualify for chapter 7 (has about $200,000 in debts)?

Asked on 1/26/08, 12:31 am

1 Answer from Attorneys

Robert F. Cohen Law Office of Robert F. Cohen
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Re: Bankruptcy

If you're still married, the property would still be considered community property despite the change in title. An attorney would have to analyze his entire financial picture, including your contribution to income before deciding for what chapter he'd qualify.

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1/26/08, 1:31 am

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