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Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Bankruptcy Law
Satisfied Customers: 111548
Experience:  Attorney At Law handling education matters.
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We are married, French citizen and legally living in Florida

Customer Question

Hi
We are married, French citizen and legally living in Florida (primary residence) for 4 years under visa E-2
We've got a secondary residence in California (under my name and my wife's name)
we are tenancy by the entireties
What's happen to our house in California if one of us only file a personal bankruptcy ?
Thanks
Paul
Submitted: 6 months ago.
Category: Bankruptcy Law
Expert:  Law Educator, Esq. replied 6 months ago.

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

If the property is jointly held in a community property state such as CA, even if only one spouse files bankruptcy, the mortgage company on the CA property can take the property unless you can convince the mortgage holder to allow you to reconfirm and get the loan in your name alone, which is solely up to the mortgage holder.

Personal bankruptcy can still take joint property in a community property state I am afraid. It is solely up to the creditor as to whether or not they will allow you to reaffirm the loan and keep the home or if they will allow you to get your separate loan and keep the property.

Customer: replied 6 months ago.
thanks for your response.
There is no mortgage on the property.
Expert:  Law Educator, Esq. replied 6 months ago.

Thank you for your reply.

The problem then is that it would be something included in the Bankruptcy, because she owns an undivided interest in community property, so you have to account for that in the bankruptcy.