What to do if I purchased a condo outright and dmy daughter’s name on the deed with me but now she and her husband are filing for bankruptcy?

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What to do if I purchased a condo outright and dmy daughter’s name on the deed with me but now she and her husband are filing for bankruptcy?

She claims that they have to list my home as it is an asset. They did not have any financial claim in my condo and I want to sell Will I be able to sell and not be obligated to any of their bankruptcy?

Asked on June 14, 2013 under Bankruptcy Law, Michigan

Answers:

Tricia Dwyer / Tricia Dwyer Esq & Associates PLLC

Answered 8 years ago | Contributor

Hello. You need to confer privately with an attorney for legal advice and assistance in addressing this matter. By your daughter being on the deed, your daughter has a legal interest. By being married, in Minnesota, by operation of law, the spouse/husband also has an interest. Choose an attorney in your home state for help, please. Some attorneys are available seven days for emergency legal needs. Many attorneys will confer initially at no charge. Then, if legal work is performed, some attorneys will provide a reduced fee for financial hardship. Some attorneys may also assist you in limited scope manner to conserve legal costs. All the best.

Gregory Abbott / Consumer Law Northwest

Answered 8 years ago | Contributor

Actually your daughter likely DOES have a financial claim in the condo - there are consequences when you put a person's name on the property deed.  Exactly how much of an interest probably depends upon the exact language in the deed.  You see a local attorney immediately - he/she may have some options for you.


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