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My brother and I owned the house I live in together but he…

Customer Question
My brother and I...

My brother and I owned the house I live in together but he removed his name from the deed so I could do a reverse mortgage, he does not live here and I had a mortgage in my name, I paid all the taxes and homeowner insurance and upkeep. The reverse mortgage was done a year ago this month at which time he took his name off the house because I couldn't do the mortgage with him on the deed. Now he is trying to file for bankruptcy on his bills, his lawyer told him he couldn't because it hasn't been long enough, is this true?

Lawyer's Assistant: Because real estate law varies from place to place, can you tell me what state this is in?

Virginia

Lawyer's Assistant: Has any paperwork been filed?

For the bankruptcy?

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

No thank you

Submitted: 8 months ago.Category: Real Estate Law
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Answered in 4 minutes by:
11/18/2017
Real Estate Lawyer: Gerald-Esquire, Lawyer replied 8 months ago
Gerald-Esquire
Category: Real Estate Law
Satisfied Customers: 5,356
Experience: Over 30 years of experience
Verified

Hello,
Thank you for using Just Answer. Please bear with me while I review your question. I will respond fully shortly. Thank you for your patience.

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Real Estate Lawyer: Gerald-Esquire, Lawyer replied 8 months ago

Hello,

Thank you for your patience and thank you for using Just Answer. I want to provide you the best service I can. Please feel free to ask any follow-up questions you have.

I am an attorney with 30 years of experience; I hope to provide you information that will help you in resolving your question.

It is true.

When a person files for bankruptcy there is a "look back period" to determine whether the person transferred any assets out of their name. The assumption is that the purpose of the transfer was to prevent creditors from attaching the asset. If there is such a transfer, then the creditor can challenge the transfer as improper.

The look back period runs from one year for most transactions. If the creditor can prove that the transfer was fraudulent then the look back period can be extended to 5 years.

See this case which explains this:

file:///C:/Users/gssmi/Downloads/00-12759-ssm-swyter_avoid_fraud_transfer-09-12-2001.pdf

I hope the information I provide is useful to you. I want you to be comfortable and satisfied with my attempt to assist you. Please, if you have ANY follow-up questions, feel free to ask.

If you ask a follow-up question and I do not respond immediately, it is because I am temporarily unavailable. I promise to respond as soon as I return. Please note that I am often unavailable Friday evening through Sunday.

Please do not forget to give me a positive rating. It adds nothing to your costs but helps me greatly. Thank you.

If you are dissatisfied with my response, PLEASE let me know before giving me a negative review so that I may try to be of better assistance. Or, if you prefer, let me know and I can “Opt Out” and your question can be re-posted without additional cost to you. I will be fair to you, and only ask the same from you.

Good luck.

Please note: Information is educational and not given as legal advice. Only your local attorney can give legal advice. I can't establish or accept an attorney-client relationship with you. All posts are available for public viewing.

Kind regards,

Gerald

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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