Legal Question in Bankruptcy in Virginia
homestead exemption/ husband not on deed
my husband & I are contemplating Chapter 7 due to overwhelming medical & credit card debt...I get the impression that becauce my husband is not on the deed to the house his exemption may not be used? I bought the house under FHA guidelines and never thought of adding him since he is sole beneficiary and in VA if I died he would automatically be the owner..Can I add him to the deed prior to filing? My county assesemnt is higher than what I could sell....but without my husbands exemption and if they use the assesment, it looks as though I will have 5500 equity?
I do wish to keep my home....Thanks
2 Answers from Attorneys
Re: homestead exemption/ husband not on deed
It may work to deed the property to yourself and your husband as tenants by the entireties, but before doing so, you should consult with experienced bankruptcy counsel to be sure this is the best solution and that it will work under your circumstances. Do not try to file bankruptcy without counsel.
Re: homestead exemption/ husband not on deed
When filing a chapter 7 and have real estate, you need to meet with an attorney in person. Especially in Northern Virginia. In a Chapter 7, a trustee will be appointed to look for assets. Very dangerous to proceed Pro Se.
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