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)?
1 Answer from Attorneys
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.
Related Questions & Answers
Cosigner declaring bankruptcy 14 months ago my dad cosigned a loan so I could get a... Asked 1/25/08, 9:15 pm in United States California Bankruptcy Law
Bankruptcy removal from credit If you filed bankruptcy before 2000 does it take 10... Asked 1/25/08, 6:15 pm in United States California Bankruptcy Law
Filed Bankruptcy?????? Can I find out and if so, how a Corp filed for Bankruptcy? My... Asked 1/24/08, 11:26 am in United States California Bankruptcy Law
Responsible party for medical bill If I claim individual bankruptcy and I include... Asked 1/23/08, 8:55 pm in United States California Bankruptcy Law
Bankruptcy and Civil Actions I filed Bankruptcy in 2005, which was granted. I listed... Asked 1/23/08, 6:50 pm in United States California Bankruptcy Law