Legal Question in Bankruptcy in Indiana

Re: Home ownership after discharge

Perhaps your parents are concerned that you had nondischarged debts which could attach to newly acquired property. Tax debts, child support debts, drunk driving related debts, student loans, and various other types of debts are usually not discharged in a bankruptcy, and those creditors could file a lien against newly acquired property. Sometimes a person makes a mistake in a bankruptcy proceeding, and other debts, even ordinary consumer loans, were not properly discharged. Even if all your debts were properly discharged, consider your parents' situation here. Is this home their residence? If it is, then you should not accept title to the property because it will leave them without an important resource during a vulnerable time in their lives. And you, from now on, will be the focus of an intense campaign by unscrupulous money lenders who will be eager to lend you money at very high interest rates, especially if their loans can be secured by real estate which they can acquire should you default on repayment.

Re: Home ownership after discharge

As a general rule, the trustee will seek to reopen a bankruptcy if substantial property is acquired within a period of about 6 months following your discharge. This would include gifts and inheritances. So soon after your bankruptcy is not a good time for a gift to be made to you.