Legal Question in Bankruptcy in California
My company is in CA and I may need to file bankruptcy. I had a divorce couple of years ago and she got the house and my name is no longer on the title. But I found out my name is still on the loan - if I file bankruptcy will the banks go after her property too?
2 Answers from Attorneys
The bank is only concerned about getting the mortgage payments. So long as they are being paid, your bk will not effect her ability to retain the home.
A bankruptcy trustee may want to take a gander at the MSA for a recent marital dissolution; special considerations apply to "business" cases or petitioners with their own companies: the company constitutes a potential nonexempt asset.
This answer by San Diego Bankruptcy Attorney, Asaph Abrams doesn�t address all facts & implications of the question; it�s general bankruptcy info, not legal advice to be relied upon. The answer creates no attorney-client relationship; it may be pertinent to CA and/or its Southern District only. Seek legal counsel before acting on or refraining from bankruptcy- or other legal-action. Laws are subject to change and local practices vary.
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Have been separated for 20 yrs am now filing for divorce in ca with a separation... Asked 9/08/14, 12:29 pm in United States California Bankruptcy Law