Legal Question in Bankruptcy in Florida

Bankruptcy

I own a house, in Florida, with my ex-husband. According to the divorce settlement, he stays in the house until he dies or decides to sell. If he dies in the house, I get 75% of the selling price less $10,000 for maintenance expenses. If he decides to sell, we split 50/50. What would happen if I declare bankruptcy? The divorce was in Florida.


Asked on 11/08/08, 10:16 am

3 Answers from Attorneys
Andrew Nichols Law Office of Andrew B. Nichols

Re: Bankruptcy

It depends on what other property you own. Do you own a house in Texas? If so, how much equity is in the Texas house? Assuming that you do not own a home in Texas then I would predict that your filing a bankruptcy would not really effect the Florida house and the terms of the divorce settlement. However, if the house in Florida is paid off or there is a large amount of equity in the Florida house then things can become complicated. I hope this answers your question. Unfortunately, it is not an easy question to answer because there are so many other factors at issue. Please feel free to call me or email me directly.

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Answered on 11/08/08, 10:27 am
Brent Rose The Orsini & Rose Law Firm

Re: Bankruptcy

The simple answer to your question is that, in Chapter 7, you'll probably lose whatever interest you have in the house. But you should sit down with a bankruptcy lawyer and describe your entire situation to be sure.

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Answered on 11/09/08, 2:52 pm
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: Bankruptcy

Sounds like a homework question, to which, this service does not provide answers.

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Answered on 11/08/08, 3:27 pm


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