Can a bankruptcy remove a deed? 17 Answers as of September 26, 2011

Filing Bankruptcy is like running through a mine field. In a Chapter 7, all interest that a debtor has in any property is by law conveyed to the Trustee who liquidates the property and uses the money to pay the creditors. The law provides that certain property is exempt and cannot be taken by the trustee. It is up to the debtor to claim the exemption and cite the law that provides the exemption. If the Debtor does not properly claim the exemption then the trustee gets the property. There are various laws that provide exemptions. This is a complicate area and anybody considering bankruptcy should retain a competent attorney that is knowledgeable in bankruptcy law and has experience representing debtors. Not every attorney who advertises that they do bankruptcy represents debtors . You should look for an attorney that is a member of NACBA , ( National Association of Consumer Bankruptcy Attorneys) and participates in professional organizations that represent Debtors. Debtors should stay away from Bankruptcy Petition preparers. Although they appear attractive because they advertise low prices. They are not qualified or allowed by law to provide legal advice. They can legally do nothing more than type up the papers.

If you have non-exempt equity that can be used to satisfy your creditors then the Trustee may liquidate it in Chapter 7. In Chapter 13, generally, you may keep assets provided you satisfy any secured lien holders and the unsecured creditors receive through the plan as much as they would receive in Chapter 7. Bankruptcy is law, not just filling in forms. There are many combinations of facts that need to be considered. What deed ? Is it a homestead ? Business property or vacation home ? You really should make an appointment to speak with an attorney near you. Most offer a free initial consultation. If you go it alone and/or use a document preparation service, you will certainly run into some problems.

Bankruptcy can not remove your deed or your property rights.

Your question doesn't make sense. Bankruptcies don't "remove" deeds. In fact, nothing does.

When you file bankruptcy all assets and debts are listed. Assets are subject to being claimed exempt.

Not clear as to what you mean by 'remove the deed'. I would need a lot more information to answer this question.

You need to have a lawyer help you. See nacba.org for good ones near you. If you have equity in your home, you may be able to save it. If there's too much equity the trustee may try to sell, depending on selling statistics in your area. Or you could file a Ch. 13 and not lose anything.