Legal Question in Bankruptcy in Georgia

Re: quick deeds and chapter 7

The correct term is a "Quit Claim Deed," and whether it can be done properly depends on such things as whether there is a loan on the house. As for bankruptcy, a trustee may very well seek to get the property back under some circumstances. "Starting life over" by filing for bankruptcy may or may not be a good move. You should see a lawyer before transferring anything.

Re: quick deeds and chapter 7

There is no such thing as a quick deed. I assume you may mean a quitclaim deed.

If you plan to file Chapter 7 there are few things more disasterous that you can do than sign a deed to a spouse beforehand. It may prevent you from filing as it will likely be attacked by the Court, which can sue your wife and undo the transfer. It may also eliminate protection the house may have under the bankruptcy code. There may be some sitautions where you could, as part of a divorce, do a transfer, but those would need to be reviewed beforehand.

If you are contemplating divorce and/or bankruptcy, it is extremely important that you see a lawyer before you do anything. The respective timing of the two cases can matter a great deal.

Feel free to call my office if you wish to retain our help for either a bankruptcy or divorce. We'd be glad to assist you if you're in metro Atlanta or nearby.