Legal Question in Bankruptcy in Massachusetts

Bankruptcy

Looking for information in reference to bankruptcy. Whether I could keep an investment property that has equity because my primary residence does not have any. Is it possible to get an exemption for the use of a homestead on an investment property?


Asked on 3/26/09, 2:01 pm

2 Answers from Attorneys
Steven Striffler Steven R. Striffler Attorney At Law

Re: Bankruptcy

Generally, a declaration of homestead pertains to your primary residence, but it depends on your circumstances. I offer a free telephone consultation.

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Answered on 3/26/09, 2:15 pm
David Baker Law Office of David Baker

Re: Bankruptcy

No. In order to have a homestead under Massachusetts law, you must either live in the property or INTEND to do so within a reasonable time. There may be other ways to protect the equity in the investment property, so consult an attorney for assistance.

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Answered on 3/26/09, 2:55 pm


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