Legal Question in Bankruptcy in California
My husband and I divorced. In our judgment we agreed to keep the real property in a revocable trust for the benfit of our son. My son and I live in the home. The equity in the home is $400,000.00. My community portion is $200,000.00. Does the BK court consider the house as my asset even though its in a trust? Is there any way I can exempt this house and keep it either by filing a chapter 7 or 13?
Asked on 12/13/10, 10:52 am
1 Answer from Attorneys
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