Can they make us sell our house or put a lien against it if he files and I don't? 7 Answers as of June 03, 2017

My husband has incurred a lot of unsecured debt. He wants to file bankruptcy and I do not. Our house is in both of our names and has about $50,000 equity.

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Ronald K. Nims LLC | Ronald K. Nims
No, his creditors can't take any action against your house when he filed bankruptcy (as long as you make the payments on the house).
Answer Applies to: Ohio
Replied: 6/3/2017
Eranthe Law Firm
Eranthe Law Firm | Cate Eranthe
Please go see a knowledgeable bankruptcy attorney in your area. It sounds like you should have no issue with the house but I don't know what other facts are involved. It is a complex area of the law and you want to make sure that you are making the right decision before you or your husband files.
Answer Applies to: California
Replied: 6/3/2017
You should be able to exempt your hall interest in Michigan.
Answer Applies to: Michigan
Replied: 6/3/2017
Stephens Gourley & Bywater | David A. Stephens
In Nevada, the house equity of $50,000.00 is exempt. Therefore if he files bankruptcy it should not affect the house as long as you keep the payments current.
Answer Applies to: Nevada
Replied: 6/3/2017
A Fresh Start
A Fresh Start | Dorothy G Bunce
It is important that you and your husband jointly record a Declaration of Homestead at the County Recorder?s office immediately to protect the equity in your home. The recorder's office has the forms to use and the cost is about $20 to record. Whether your husband files bankruptcy or not, the home will be protected by the homestead if he files bankruptcy, provided you have lived in Nevada for more than two years and he is eligible for Nevada exemptions.
Answer Applies to: Nevada
Replied: 6/3/2017
    GARCIA & GONZALES, P.C. | Richard N. Gonzales
    You should be okay. I would suggest that you meet with a lawyer. Offer to pay for one hour of their time. Now is not the time to skimp.
    Answer Applies to: Colorado
    Replied: 6/3/2017
    OlsenDaines | Rex Daines
    It depends on the value of the home. If the court can sell the home, pay you of the proceeds, pay your husband his homestead exemption and still have something left over to pay towards his debt, then the court can sell your home. Since real estate values are rising, there might be more equity than you think. You need to get a solid valuation on the home and it may be wise to see an attorney about a chapter 13.
    Answer Applies to: Oregon
    Replied: 6/3/2017
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