How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Roger Your Own Question
Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 30898
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
Type Your Bankruptcy Law Question Here...
Roger is online now
A new question is answered every 9 seconds

I find myself in alot of credit card debt. My parents did

This answer was rated:

I find myself in alot of credit card debt. My parents did deed me a parcel of property several years ago. How long would that property have to be out of my name if it comes to me having to file bankruptcy? I am from the state of Indiana.
In bankruptcy, pursuant to 11 U.S.C. §548 (section 548 of the Bankruptcy Code), a fraudulent transfer is any transfer of any asset--or any interest in any asset (such as part ownership in a home)-- made within two (2) years prior to filing the bankruptcy case and in which either of the following are true: A. The transfer was made with actual intent to hinder, delay, or defraud any entity to which the debtor was or later became indebted to; OR B. the debtor received less than reasonably equivalent value for the exchange AND was insolvent on the date the transfer was made (or became insolvent as a result of the transfer). There are actual several other bases for the transfer to be considered fraudulent, but these are the most common.
Roger and other Bankruptcy Law Specialists are ready to help you

Related Bankruptcy Law Questions