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Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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HI I have a question regarding an investment home that I was

Resolved Question:

HI I have a question regarding an investment home that I was awarded in our Marital settlement agreement in Calif. We were married for 15 years.
I was awarded the home in my divorce that was final in July, 2006. The home was deeded to me, but the loan remains in my ex husband's name. I have been paying the mortgage for 61/2 years, it has remained current, and tried to refinance it and have the loan put in my name, but the lender would not do that. I hear that my ex is planning to file chapter 7 bankuruptcy this week and wondered what will happen to my property in this situation. I've been told various things regarding this unique situation. I want to keep this property.
I also realize that child support and spousal support that is due
(not being paid to me for years( spousal) or for the last year (child) will still be owed to me even if he files bankruptcy. He just got a job in Jan. Please send me an answer.
Thank you.
Les
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 5 years ago.
Hello,

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

I am a lawyer with 25 years experience. While I am not your lawyer and do not represent you, I will endeavor to provide you with legal information through this open and nonconfidential forum.

Since the property was transferred to you 6 years ago, your former husband bankruptcy should not affect the property at all. The loan is an obligation to pay it does not entitle your former husband to any ownership interest.


Please let me know if you have any questions concerning my answer.
Customer: replied 5 years ago.

Thank you for your answer. So I would just continue to pay this mortgage and carry on as if he is not filing bankruptcy? If he names this property as a debt in his bankruptcy will I have notification of this? It may be possible that I will need to move into this property later this year if my home goes for short sale. I really want to know that this will remain my home.

Expert:  Ellen replied 5 years ago.
Thank you for your answer.
My pleasure.

So I would just continue to pay this mortgage and carry on as if he is not filing bankruptcy?
Correct

If he names this property as a debt in his bankruptcy will I have notification of this?
He is required to name the loan in his bankruptcy petition because his liability remains even though he no longer has ownership interest

It may be possible that I will need to move into this property later this year if my home goes for short sale. I really want to know that this will remain my home.
your post does not indicate any reason why the house would not remain your home

Best regards
Ellen and 2 other Bankruptcy Law Specialists are ready to help you