My grandparents deeded their house and property over to me August 31, 1998, 5 years ago, as their last gift to me. I have paid the land taxes the last 5 years. My grandparents filed a chapter 13, in their name only; and we had the meeting of creditors today, September 10, 2003. The trustee turned it into a chapter 7 and is sending an appraiser out to look at MY house. Can they take MY house after 5 years? 5 years ago we did not have any financial problems. Thank you.
Answered on: 9/12/03, 10:32 am by Heidi Milam
Re: Chapter 7
If the transfer was legal and not intended to defraud creditors, your house should be safe. You need to take a copy of the deed to your grandparents' bankruptcy attorney for he or she to review and advise your grandparents accordingly. Additionally, if you have any proof that you have been paying the property taxes (cancelled checks, etc.) you should take that proof to the attorney also.
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Heidi S. Milam, Attorney at Law P.O. Box 867 Hernando, MS 38632► Other answers from this attorney