Legal Question in Bankruptcy in California

Re: If named on a Trust Deed, how does it affect bankruptcy

It may. A lot depends on the value of the property.

Re: If named on a Trust Deed, how does it affect bankruptcy

Thanks for your posting. You may not like this answer, but the true response should be, "it depends."

For one, it depends on what type of bankruptcy you are filing. A Chapter 13 will not affect the property at all, but a Chapter 7 might.

The other factors that any answer would be dependent upon are how the property is owned (joint tenancy, tenants in common, etc.), and what the value of your share is, and whether or not you live in the property. You do have an exemption available to you for a primary residence, but it is only for certain amounts, based upon your particular facts.

Thanks again, and I hope this answer was helpful. If you feel you need further questions answered, more information, or representation, please feel free to contact me directly at [email protected] -- I'm happy to help in any way that I can. Best of luck.