Legal Question in Bankruptcy in Georgia

Chapter 7 laws pertaining to real estate

We have been trying to refinance our house because our debts are so high and credit is getting worse and we have a piece of raw land in addition to our home that we owe taxes on. We will lose it in summer if taxes aren't paid. We've been trying to sell it but neighbors have run everyone off. We needed the profit to pay off debts, but if we lose it we have no money to pay it off with. We are considering Chapter 7. Our house and land payments are current, we don't care if we lose the land if all debts are released but wish to keep our house. My neighbor said she heard we could sign a QCD over to someone to avoid losing our house or she said we probably wouldn't lose it because we've only owned it for 4 years. Is she right?


Asked on 12/30/04, 9:41 pm

2 Answers from Attorneys
Bernd Stittleburg Stittleburg Law Offices, LLC

Re: Chapter 7 laws pertaining to real estate

Filing a Quit Claim Deed will not prevent the loss of your home in a bankruptcy. If you visit my website at www.4georgiabankruptcy.com you will find answers to many of your questions regarding bankruptcy. If you complete my questionnaire, I can advise whether you can qualify for a chapter 7 or give me a call on Monday at 770-396-4323.

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Answered on 12/30/04, 9:48 pm
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: Chapter 7 laws pertaining to real estate

Your neighbor is wrong about deeding the property. A transfer of the property shortly before a bankruptcy is likely going to be set aside.

However, if there is minimal equity in the property and you are current, you probably can keep your home in a Chapyer 7. Our office handles Chapter 7s. I'd suggest that you go to www.glenashman.com, download our free worksheet, and call us for a consultation to bring in the worksheet. Let us know you found us on LawGuru and we'll waive the initial consultation fee. Our number is 404-768-3509.

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Answered on 12/30/04, 10:04 pm


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