Legal Question in Bankruptcy in Florida

Can I keep my home in Backruptcy?

As a result of divorce I will be saddled with overwhelming credit card debt. I will have some proceeds from the sale of my home which I understand I can put into a new house and cannot be taken from me in bankruptcy. In order to reduce the mortgage to a level I can afford my father wants to give me 25000 to apply to the downpayment on the house. If I file for bankruptcy after I purchase the house, can I keep it? How will bankruptcy affect his gift to me?


Asked on 10/02/00, 9:00 pm

2 Answers from Attorneys
Melody Stickel-Martinez Melody Stickel-Martinez, Esq.

Re: Can I keep my home in Backruptcy?

Your homestead would be exempt. Please feel free to contact my office for more information. (954)966-4140 Sincerely, Melody Stickel-Martinez, Esq.

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Answered on 10/31/00, 11:17 am
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: Can I keep my home in Backruptcy?

Your home is exempt as homestead property. The gift from your father will not be affected. If it was a loan, then it would be subject to discharge. Too keep the home you would be obliged to pay the mortgage and taxes. You may call me at 305-940-8080

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Answered on 11/02/00, 7:24 pm


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