Is it true that I cannot sell it now since she filed for bankruptcy? 10 Answers as of November 14, 2016

My ex-wife and I got a divorce earlier this year. She quit claimed the deed to me. I listed the home for sale and have a contract that is ready to close. I found out that my ex-wife filed for bankruptcy. I am making $50,000 on the sale of the house.

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Ronald K. Nims LLC | Ronald K. Nims
Since she recently gave you her 1/2 of the $50,000 of equity, the bankruptcy court will look into the transaction to see if her $25,000 should be given to her. If that is the court's decision, they will come to you for the money. They will find it very convenient that you sold the place and have the ready cash.
Answer Applies to: Ohio
Replied: 11/14/2016
GARCIA & GONZALES, P.C. | Richard N. Gonzales
Meet with an experienced BK lawyer face to face. They will charge you for one or two hours to review the matter with you. Any lawyer worth their salt, will have to review her BK file to properly advise you.
Answer Applies to: Colorado
Replied: 11/14/2016
Stephens Gourley & Bywater | David A. Stephens
As long as the quitclaim deed was recorded before she filed, you should be able to complete the sale.
Answer Applies to: Nevada
Replied: 11/14/2016
A Fresh Start
A Fresh Start | Dorothy G Bunce
Sure would have helped to know more specifically WHEN you recorded the quitclaim deed and if the transfer of this property to you was spelled out in the divorce decree. I do not believe that your ex filing bankruptcy will prevent you from selling, but you may need permission from her bankruptcy trustee to do so.
Answer Applies to: Nevada
Replied: 11/14/2016
OlsenDaines | Rex Daines
What does the divorce decree say? If it said that she had to quit claim the property to you as part of a negotiated divorce and the terms of the divorce were fair, then you can sell it. If she just gave you the home as a gift, then the court-appointed trustee has a claim against you for the value of the gift (which sounds to be $25,000) and the trustee can get involved in the sale to ensure you don't spend them money.
Answer Applies to: Oregon
Replied: 11/14/2016
    Garner Law Office
    Garner Law Office | Daniel Garner
    If the quitclaim deed has been properly recorded, and if your divorce is final, you should be able to sell the property no problem. It is rare for a bankruptcy trustee to challenge the fairness of a divorce decree.
    Answer Applies to: Oregon
    Replied: 11/14/2016
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    I'm sure the trustee will have something to say about that. Contact him/her ASAP.
    Answer Applies to: California
    Replied: 11/14/2016
    Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
    It's always best to consult a lawyer in your locality who is skilled in the area for which you seek advice. That said, IF you recorded the Quit Claim Deed before she filed for bankruptcy, then you very likely can go ahead and sell the house. If she signed away property after the day she filed her bankruptcy petition, you can not sell the house without the permission of her Trustee, or of the bankruptcy court. But it can (usually) be done.
    Answer Applies to: Wisconsin
    Replied: 11/14/2016
    The Law Office of M Grater LLC
    The Law Office of M Grater LLC | Mark O. Grater
    The quick simple answer is that if it was validly transferred pursuant to an Order from the Divorce Court regarding the divorce, the transfer probably does not violate the transfer rules in bankruptcy. Thus if the bankruptcy trustee was disclosed this issue and he abandons the property as not being property of the bankruptcy estate, then you are probably OK to sell, subject to getting more specific advice from a bankruptcy attorney on the specific facts of your case.
    Answer Applies to: Connecticut
    Replied: 11/14/2016
    Law Office of Stuart M. Nachbar, P.C.
    Law Office of Stuart M. Nachbar, P.C. | Stuart M. Nachbar
    IF you have a filed quit claimed deed, it depends on how old it is, and whether given pursuant to a Judgment of Divorce or a Property Settlement Agreement. If it was done within the last year of so, the Trustee may try to undo same. I suggest you speak with your Real Property Attorney and a Bankruptcy Attorney in your jurisdiction.
    Answer Applies to: New Jersey
    Replied: 11/14/2016
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