Legal Question in Bankruptcy in California

I jointly own a vacation property with another party. If that party files for bankruptcy, is this property in jeopardy as a result of a bankruptcy settlement? In other words, is it possible that the property must be sold to settle to satisfy the creditors of the other party?


Asked on 11/13/09, 1:45 pm

1 Answer from Attorneys

David Gibbs The Gibbs Law Firm, APC

It is possible, depending upon the amount of equity, the chapter of bankruptcy the other party filed, and many other factors. Joint-ownership will not, in and of itself protect the property from liquidation in bankruptcy.

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Answered on 11/18/09, 2:27 pm


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