We currently own a home with a mortgage and an adjacent lot, free and clear in Arizona. I am contemplating bankruptcy and want to protect the lot. I want to combine the two properties and hold under homestead. How is the best way to combine or merge the properties?
1 Answer from Attorneys
This is extremely complicated and serious issue. Trustees are going to be aggressive with this. You will need to combine them with the county assessor and make sure that the combined value has less than $150,000. I would strongly advise you to hire a bankruptcy lawyer...this is not a "simple case" that you can do on your own.