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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 17531
Experience:  B.A.; M.B.A.; J.D.
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How do you have to wait to file bankruptcy after you sign

Customer Question

How long do you have to wait to file bankruptcy after you sign your house over to family?
Submitted: 1 year ago.
Category: Bankruptcy Law
Expert:  Phillips Esq. replied 1 year ago.

Could you explain a little more what you meant?

Is the house being sold or given as a gift?

If being sold, is the property being sold for the fair market value?

Customer: replied 1 year ago.
It is a gift, I guess. It would be my son's inheritance.
Expert:  Phillips Esq. replied 1 year ago.

Thank you for the information.

At the least two years. . Pursuant to 11 U.S.C. Section 548 subsections (a) and (e) a bankruptcy trustee can avoid fraudulent transfers made within 2 years prior to bankruptcy filing and in some instances within 10 years prior to bankruptcy filing if the transfer was made to a trust.