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Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 41011
Experience:  Texas Attorney for 30 years dealing in real estate
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I own a house (rental property ) with a partner. We do not

Customer Question

I own a house (rental property ) with a partner. We do not have any legal documents other than the deed is in both of our names. All bills and mortgage payments are paid up to date.
My partner is thinking about filing for bankruptcy. How does this effect my 1/2 ownership of the property?
Thank you
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Ray replied 1 year ago.

Hi and welcome to JA. I am Ray and will be the expert helping you today.

It does affect you .The trustee could force a sale here of the property and his half interest.You could buy him out here to avoid problems.It affects only his half but again the trustee may force a sale of it.It would be better if you could buy him out here before he files . He can deed his share to you here.

I appreciate the chance to help you today.Please let me know if you have more follow up.Thanks again.

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