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Andrea, Esq.
Andrea, Esq., Attorney
Category: Legal
Satisfied Customers: 12554
Experience:  25 yrs. experience in family law, estates, real estate, business law, criminal defense, immigration, and employment law.
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my wife has approx 200k in medical bills from february of 2011.

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my wife has approx 200k in medical bills from february of 2011. her only asset is the shared equity in our home. she doesn't/cant work. She is just starting to receive phone calls from collection agencies. does she need to file bankruptcy?

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Q. Do you and your wife hold title to your home as "Tenants by the Entireties"?

Customer: replied 3 years ago.

not quite sure what that means, we do have a mortgage.

Hi, Ed,

 

 

If the medical bills cannot be paid, then the only relief is for your wife to file bankruptcy. Her share of the equity in the home will not be affected at all if the deed to the home is held as Tenants by the Entireties and if so, the Deed would reads as follows:

 

 

Ed ______________ and ______________________ , Husband and Wife, as Tenants by the Entirety

 

 

 

Only a husband and wife can hold title to real property as tenants by the Entirety and from a legal standpoint, it is held by both spouses as a single marital entity, not as individuals. As such, it cannot be divided, nor can it be reached by the crediors of your wife alone. Therefore, if your wife files bankruptcy, the house will be exempt property and will not be part of the bankruptcy estate and will not be available to creditors,

 

 

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Thank you for the opportunity to be of assistance,

 

 

ANDREA

Customer: replied 3 years ago.

if my deed does not read that way can I change it?

If you bought the house with your wife after you were married, your title on the Deed should read "Tenants by the Entirety. If it does not, then yes, you can change it,

 

 

Please be kind enough to rate "Excellent Service" so that I receive credit

for assisting you,

 

 

Bonus and Positive Feedback on survey is very much appreciated,

 

 

 

Thank you for the opportunity to be of assistance,

 

 

ANDREA

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