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cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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so if the dedt is in my name only and i do not file bankruptcy

Resolved Question:

so if the dedt is in my name only and i do not file bankruptcy and i just cant pay it back and wife and i have property in oregon tenents by entirty in realestate only and property is paid for can they lein or take it or even find it....we live hawaii in a house we owe more that worth but just remodified.
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 6 years ago.

Hi JACustomer,

If the debt is in your name only, and if the property in Oregon is held as Tenants by the Entirety, your creditors cannot touch that property - even if you do not file a Bankruptcy - unless your wife pre-deceases you.

The only way they could find the property is if you disclose that information. Disclosing one's assets is something that is often - but not always - required of a debtor.


I think this is what you wanted to know. If not, please let me know.
Thank you!



Customer: replied 6 years ago.

so can a bankruptcy trustee look to another states exemptions if that state has weaker exemptions even though i file in my home state so he can get my paid for out of state tenents by entirty property or does he have to use my home state exemptions


thanks Gary

Expert:  cfortunato replied 6 years ago.
No - the Bankruptcy trustee only applies the exemptions from the state where you have resided for the past 2 years. The Oregon rule is not an exemption. The Bankruptcy court abides by the rule that your creditors cannot take the house for your debts.
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