Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
My wife is not corp owner and did not get personal guarantee. Can bank take home since she is also owner?
A: If you are on title with your spouse as tenants by the entireties, then the bank could foreclose your interest in the property, subject to the possibility that if you were to die before your spouse, she would acquire the property free and clear of the bank's interest. Since no one would likely be a buyer under such conditions, you're probably pretty safe from a foreclosure.
Her sister has just died and she has life insurance payout of 20 K. Can she use this payout as down payment for new home 400k or lease of new home.
A: Yes, that would be your spouse's separate property -- and, not part of your bankruptcy.
She has another 100k in probate from sister. Is this able to be used as downpayment for new home or to secure lease.
A: Same answer as previous.
Can I use my income after filing date to acquire or lease new home.
A: In Chapter 7: yes.
With currentpayments 15K/month take home 20 after taxes, I cannotmake house payments. i am not delinquent. How can I get funds under chapter & to lease or purchase new smaller, less expensive home?
A: I don't understand the question. Plese rephrase.
Terms and Conditions: By your continuing in this conversation with me, or by your clicking “Accept”, you are expressly agreeing to all of the following: (1) our communication is for entertainment purposes only; (2) you are not consulting me in my professional capacity as an attorney; (3) you do not seek to establish an attorney-client relationship with me, nor do I with you; (4) you will not rely on anything I say and you will obtain appropriate legal counsel via a traditional/office consultation with an attorney licensed to practice in the jurisdiction where your legal issue arises (and you may not use our communication to avoid taxpayer penalties imposed by the U.S. Dept. of Treasury); (5) by communicating with me in this public forum you are irrevocably waiving any right to privacy, confidentiality and attorney-client privilege concerning the matters discussed. You further separately declare that any payment made by you is not consideration for this contract, nor offered for any services rendered by me on your behalf, but rather is made in genuine admiration and respect for my desire to help others. If you do not agree with these terms and conditions, then you must advise me immediately.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).