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Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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My husband is filing bankruptcy ALONE , but I am not (his wife)..

Customer Question

My husband is filing bankruptcy ALONE , but I am not (his wife).. The house is Financed in MY Name, with my brother as the co-signor. We purchased our home 4 mths ago. We live in tennessee which is not a community property state, however they did require my husband be at the closing, as he IS listed on the WARRANTY DEED. Its my understanding my husband get what is called "Survivorship rights" meaning if I die, he gets a childs percentage of the home and the $ of sale of house is split between him and my cosignor. Question is,.. DOES my husband have to list our home in his bankruptcy as an Asset if its not in his name, but someone can look it up w/ city that his name is XXXXX XXXXX deed? And does he list the home as a DEBT tos unturst if the notes in my name?
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 8 years ago.

Hello,

Thank you for your question. I am happy to assist you.

Your husband should list the house as an asset on the petition since he is on the warranty deed. He should also indicate the mortgage so that it is apparent to the trustee that the house is not free and clear.

I hope that the information which I provided was helpful to you.

Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.

Thank you,
FLAandNYLAWYER

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Ellen and 3 other Bankruptcy Law Specialists are ready to help you
Customer: replied 8 years ago.
If my husband lists our home as a creditor owed, they will then send a letter to Suntrust saying hes going bankrupt - that in no way affects me, the wife that is not filing correct .. I guess I didnt fully understand your answer and want to ensure that by listing this information that I wont lose our home. There is no equity in it anyway.
Expert:  Ellen replied 8 years ago.
Hello,


He does not need to list Suntrust in the creditors matrix since he did not sign the mortgage. However, the petition does need to indicate the ownership interest in the house as well as the lien against the house.


I hope that this information has helped you.


If I can be of assistance in the future, please ask for FLAandNYLawyer.


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THIS IS FOR INFORMATION ONLY. NO ATTORNEY-CLIENT RELATIONSHIP EXISTS. PLEASE CONSULT A LAWYER IN YOUR STATE FOR LEGAL ADVICE

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