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dylatess
dylatess, Attorney
Category: Bankruptcy Law
Satisfied Customers: 5142
Experience:  37 plus years of experience specializing in bankruptcy law
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My husband and i are own a home as community property

Customer Question

hello, my husband and i are own a home as community property . We are in foreclosure, and would like just one of us to file for bankruptcy so the other one could fix credit. Is it possible to transfer the property to only one of us at this point?
Submitted: 1 year ago.
Category: Bankruptcy Law
Expert:  dylatess replied 1 year ago.
Over 37 years, I have assisted my clients with debt problems having filed more than 32000 Chapter 7 and Chapter 13 Bankruptcy petitions.
NO you cannot. If you do, all real property transfers made within two years of filing of BK are considered fraudulent transfers by the BK court and there are both civil and criminal penalties if you do so. Likewise, if the home loan is in both names, it is affecting both of your credit. And if it is only in one spouse's name, because you are in a CP state, non payment still affects both spouse's credit.
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