Legal Question in Bankruptcy in Wisconsin

Re: Removing Name from Deed of Parent's Home

Your options depend on the value of your interest in their house. You can possibly exempt part of it, and file a ch. 13 case and do a repayment plan, but I can't really say without more information about the value of the house, the liens and encumbrances against it and other relevant information. If you'd like a free phone consult, please visit my webpage at http://www.bklaw.com/consult.html and give me a call or e-mail to schedule an appointment.

Mark

Re: Removing Name from Deed of Parent's Home

I've had experiences where the debtor was put on the deed solely for the parents' estate planning purposes, and the debtor never made any mortgage payments, insurance payments, etc. After presenting a lot of proof through paperwork, the bankruptcies went through without further problem and the property was unscathed. There's no guarantee, however. If you transfer your interest just before you file bankruptcy, however, it will raise eyebrows and be a red flag.

Re: Removing Name from Deed of Parent's Home

Depends on value of your interest, plus a few other factors. Are you in a rush to file bankruptcy? if not you could do things to put yourself in a better position to protect them too. Feel free to contact me directly and good luck.