Legal Question in Bankruptcy in Connecticut
Quit Claim
When divorced, I quit claim the house to my ex-wife. She is now starting to file for bankruptcy. If she files a chapter 7, and the selling of assests do not meet the debts, am I still responsible for any mortgage on the home? The divorce states "the defendant shall hold the plaintiff harmless for the mortgage....". Can the bank still come to me for the balance of the mortgage?
1 Answer from Attorneys
Re: Quit Claim
Yes you would still be responsible on the mortgage unless your "ex" refinanced the property. But most people file bankruptcy so that they can keep their house, and not lose it to foreclosure. Check with the court records to see if she filed a statement of intention indicating one way or another.
If the property is foreclosed on, the mortgage company can seek a deficiency judgment from you if the property sells at auction for less than what's owed them. In some states, they do not have this right, and many companies don't do this as a matter of policy. So whether this will actually happen is a matter of speculation.
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