Can I file bankruptcy if I am on title? 18 Answers as of June 19, 2013

Can I file for Bankruptcy if I am on title but not on loan to our home?

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Breckenridge and Walton
Breckenridge and Walton | Alan D. Walton
Yes, but if there is equity then you could lose the home.
Answer Applies to: Michigan
Replied: 10/14/2011
Caruso & Diaz L.L.C.
Caruso & Diaz L.L.C. | Natalia Diaz
Yes you can.
Answer Applies to: New Jersey
Replied: 6/19/2013
AyerHoffman, LLP
AyerHoffman, LLP | David C. Ayer
You can file bankruptcy even if you are on the mortgage. The mortgage is a secured debt which is treated differently in a bankruptcy from unsecured debts like credit cards. As well, your interest in the home may fall under one of the many exemptions of property from the bankruptcy estate. You should consult with a bankruptcy attorney and explain your situation in detail to determine whether Chapter 7 or Chapter 13 bankruptcy is appropriate for you. Your attorney can guide you through the process to a decision which is right for your individual needs.
Answer Applies to: Massachusetts
Replied: 10/5/2011
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Yes, but you will have to notify the lender if you are trying to stop a foreclosure.
Answer Applies to: California
Replied: 10/28/2011
Law Office of Michael Johnson
Law Office of Michael Johnson | Michael Johnson
Yes you can, but the debt will not be eliminated.
Answer Applies to: Florida
Replied: 10/28/2011
    Ashman Law Office
    Ashman Law Office | Glen Edward Ashman
    Yes, but whether you should and what will happen are things you need to talk to a lawyer about, as the wrong decision can be an irreversible catastrophe.
    Answer Applies to: Georgia
    Replied: 10/4/2011
    Heupel Law
    Heupel Law | Kevin Heupel
    Yes, assuming that you have other debts that you want to discharge and the home is not the sole reason that you are filing bankruptcy, you can still file although you are listed on the title, but not on the loan.
    Answer Applies to: Colorado
    Replied: 10/4/2011
    Bankruptcy Law office of Bill Rubendall
    Bankruptcy Law office of Bill Rubendall | William M. Rubendall
    If you are not on the loan filing bankruptcy will not operate as an automatic stay against collection by the lender.
    Answer Applies to: California
    Replied: 10/4/2011
    Greifendorff Law Office
    Greifendorff Law Office | John Greifendorff
    Yes. The two have no logical connection. The real question is whether or not it would be wise to do so. You should get legal counsel to determine that with a view of your whole situation.
    Answer Applies to: California
    Replied: 10/4/2011
    AyerHoffman, LLP
    AyerHoffman, LLP | Melissa Hoffman
    Yes, you can file for bankruptcy if you are on the deed for property but not a loan secured by that property. There are a couple of things to keep in mind. If you are looking to have the loan amount discharged, the person whose name appears on the mortgage will have to file bankruptcy to do so. The property will be treated as an asset, and you will be able to protect any equity in the property (up to $500,000 in Massachusetts).
    Answer Applies to: Massachusetts
    Replied: 10/4/2011
    Law Office of Lynnmarie A. Johnson
    Law Office of Lynnmarie A. Johnson | Lynnmarie Johnson
    It depends; generally yes as long your portion of the equity in the house does not exceed the allowed exemption amount. If it does, you may have to pay some money to the trustee for your creditors if you want to keep the house. This can be a complicated analysis. See an attorney before you file!
    Answer Applies to: Michigan
    Replied: 10/4/2011
    Ross Smith, Attorney at Law
    Ross Smith, Attorney at Law | Charles Ross Smith III
    Yes, you can file bankruptcy if you have title to property. But then the question is, "Will you lose the property to the Bankruptcy Court?" To answer that, you need to consult a bankruptcy attorney. Fortunately, many attorneys don't even charge for the initial consultation. You will need to show the actual deed to the land or vehicle, together with any mortgages or liens on the property. The attorney will want to know the approximate value of the property also. The attorney can then advise you if there are any exemptions available to cover the property. Good luck. By the way, it is usually unwise to file without your spouse. Your attorney can advise you about that also.
    Answer Applies to: Ohio
    Replied: 10/3/2011
    CONSUMER PROTECTION ASSISTANCE COALITION, INC. (DE).
    CONSUMER PROTECTION ASSISTANCE COALITION, INC. (DE). | Gary Lee Lane
    Yes.
    Answer Applies to: California
    Replied: 6/3/2013
    Bankruptcy Law Center
    Bankruptcy Law Center | Bill Zurinskas
    I think you are concerned with "losing home in bankruptcy" issues. Since you are on title to your home, your interest in your home becomes property of the bankruptcy estate when you file for bankruptcy. Since it appears you may be entitled to claim a homestead exemption in your home, whether you lose or keep your home depends upon how much equity you have in your home. Colorado exemptions provide for a $60,000 or $90,000 homestead exemption. Since more facts are needed to see if you qualify to claim the homestead exemption, get a free consultation with an experienced bankruptcy attorney.
    Answer Applies to: Colorado
    Replied: 10/3/2011
    Grasso Law Group
    Grasso Law Group | Charles Grasso, Esq.
    Yes, but you will have to include your home in the bankruptcy. If the house is underwater then there will be not value to have to exempt; otherwise you will have to try to exempt any equity in the home so it does not become part of the bankruptcy estate.
    Answer Applies to: California
    Replied: 10/3/2011
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    You can file bankruptcy, but the question is if there is equity in the home, since it is half yours? If you have "unexempt" equity in the home, then the trustee can seize it. Speak to an attorney to explain your situation and they can tell you based on your county, what your homestead exemption would be.
    Answer Applies to: New York
    Replied: 10/3/2011
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