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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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my boyfriend co-signed with me on the mortgage and he is on

Customer Question

my boyfriend co-signed with me on the mortgage and he is on the title. i have been paying the mortgage for 6 years soley without his help. i claim the homestead and pay the mortgage and insurance on this house and he claim homestead at another residence and have not lived together never. my question, he is now filing for bankruptcy, what do i need to do to protect the house and $ 80,000 equity in home.
Submitted: 9 years ago.
Category: Bankruptcy Law
Expert:  TJ, Esq. replied 9 years ago.

Hello and thank you for allowing me to address your legal question.

Unfortunately, you’re in a bad position. Even if your boyfriend claimed your property as his homestead, only $5000 of equity would be exempted.

The fact that you’ve been paying the entire mortgage won’t be of much help in arguing that you are the sole owner. Instead, your recourse would be to demand reimbursement from your boyfriend for part of what you’ve paid the lender. Of course, once your boyfriend is discharged, he won’t legally owe you that amount anymore.

He can’t convey his interest to you because any such conveyance within 2 years of filing for bankruptcy protection is considered fraudulent, and the bankruptcy trustee will reverse the conveyance.

Since you will be fighting an uphill battle, and this issue is complex, you should consult with a local bankruptcy expert. It may be possible to make some sort of deal with the bankruptcy trustee based on your specific facts.

I know that’s not what you wanted to read, but I hope my answer was helpful. If so, then please remember to ACCEPT my post as that is the only way I will receive credit and compensation for my answer. Thank you and good luck!

DISCLAIMER: Please understand that the complexities of most legal problems cannot be sufficiently addressed in this setting. Accordingly, my post is intended as general information only, and should neither be construed as specific legal advice, nor as an adequate substitute for the retention of legal counsel.


Customer: replied 9 years ago.
Relist: I prefer a second opinion.
Expert:  Ellen replied 9 years ago.

I agree with the prior expert's opinion. Please do not accept my answer as I am merely reviewing the work of the prior expert. You can accept the prior expert's answer as correct.