Legal Question in Bankruptcy in Ohio
My wife and I are filing for chapter 7 in Ohio. However, my wife's name is on the deed to a property in West Virginia. Her brother and sister are also on the deed. This property was willed to all three when their father died in 2006. Will this hinder our chapter 7? Will removing her name from the deed help or will we have to wait a certain amount of time before filing for chapter 7?
1 Answer from Attorneys
This may or may not hinder your immediate filing of a Chapter 7 case depending on, among other things, the value of the property, the amount of any mortgage debt or other obligations associated with the property, and the amount of the rents if it is to be used as income property. You certainly cannot transfer the interest immediately prior to filing without triggering a serious inquiry from the Trustee. If you are in the Northern District, you may contact this office at 216-241-2510 for a free consultation.
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