Legal Question in Bankruptcy in Florida

I declared bankruptcy in December, 2008. A debtor objected, claiming I had hidden assets. He has taken action to prevent the Court from granting my discharge. All possessions (bank accts, investments, cars) are in my wife's name...except the house, which is jointly owned and lists my name first on the title.

I am aware that our house is beyond the reach of the debtor. But now we want to sell the house (in which we have considerable equity) and buy another. Does the opposing side have any claim on the proceeds?


Asked on 2/20/11, 2:24 pm

1 Answer from Attorneys
Sanford M. Martin Sanford M. Martin, P.A.

My basic answer to your question as understood is:

Assuming that you claimed your residence as exempt under Florida homestead provisions, if you have not yet been discharged, your sale of the residence in a transaction which involves monetary proceeds to you as a net gain may be claimed by a creditor and even reviewed by the bankruptcy Trustee prior to discharging you in the case. Advice: discuss the potential sales contract and various options with an attorney before execution of documents.

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Answered on 2/20/11, 3:35 pm


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