Legal Question in Family Law in Florida
a divorce is pending and the wife has been granted residency in the home. the loan is in the husbands name and she wishws ro remain in the home and he wants the house sold... if the husband files bankruptsy, does the wife have an option to buy the home or does the home return to the lender?
1 Answer from Attorneys
That would depend on if the husband files a Chapter 7 or Chapter 13 bankruptcy. In a Chapter 7, assets are generally sold to pay off debts. In a Chapter 13, your debts are reorganized so that you are able to manage your debt. People typically file a Chapter 13 in order to remain in the home while paying only what the home is worth. Nevertheless, the wife does have the option to purchase the home.
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