Is there a way to not file on our land but everything else? 19 Answers as of April 17, 2014

My husband and I own land on which my sister is listed on the loan as well.

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EDWARD P RUSSELL | EDWARD P RUSSELL
All assets and debts must be included in the bankruptcy schedules.
Answer Applies to: Minnesota
Replied: 4/17/2014
The Law Office of Mark J. Markus
The Law Office of Mark J. Markus | Mark Markus
It's not clear what you mean when you say "file on". When you file a bankruptcy case, you must list all your assets and all your debts. This obviously includes your land and any liens or encumbrances against it. However, as long as you make the required payments, there's no reason this should affect your sister at all.
Answer Applies to: California
Replied: 4/17/2014
The Law Office of M Grater LLC
The Law Office of M Grater LLC | Mark O. Grater
When you file for bankruptcy, you must list everything that you own!
Answer Applies to: Connecticut
Replied: 4/16/2014
Eranthe Law Firm
Eranthe Law Firm | Cate Eranthe
If you file a bankruptcy you must make a full disclosure of everything you own and everything you owe. If is a Federal crime to leave anything out. Federal prison is not a place you want to go. Nor do you want to lose the land. If you fail to list something then the Trustee will take it and sell it to pay the creditors. You should figure out the value of your portion of the land and see if you can exempt it.
Answer Applies to: California
Replied: 4/15/2014
Stephens Gourley & Bywater | David A. Stephens
You would have to list the land and the debt, but you may be able to keep paying the debt anyway.
Answer Applies to: Nevada
Replied: 4/15/2014
    GARCIA & GONZALES, P.C.
    GARCIA & GONZALES, P.C. | Richard N. Gonzales
    You are required to list all of your property, and all of your debts. Sounds like this land has a mortgage on it. If there is no equity in the property, the Trustee will have no interest in the land.
    Answer Applies to: Colorado
    Replied: 4/14/2014
    Bird & VanDyke, Inc.
    Bird & VanDyke, Inc. | David VanDyke
    No. All assets and debts must be listed in the appropriate bankruptcy schedule.
    Answer Applies to: California
    Replied: 4/14/2014
    Havkin & Shrago | Stella Havkin
    No. If it is not included in your schedules and not exempted under available exemptions, then it is bankruptcy fraud.
    Answer Applies to: California
    Replied: 4/14/2014
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    The law requires you to list ALL of your assets and co-debtors. No way around this.
    Answer Applies to: California
    Replied: 4/14/2014
    R. Steven Chambers PLLC | R. Steven Chambers PLLC
    In a word, No. Bankruptcy is an all or nothing proposition. Either all assets and all creditors are listed or you don't file.
    Answer Applies to: Utah
    Replied: 4/14/2014
    Law Office of Shirly L. Horn | Shirley L. Horn
    Yes it is. You must still disclose the asset and the ownership interests but if there is not excessive equity then should be no problem.
    Answer Applies to: Michigan
    Replied: 4/14/2014
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    If you are asking if you can omit the information about your ownership in property and still obtain the benefits of bankruptcy, you are actually asking if it is okay to commit a federal crime. If you are okay with doing the time, then do the crime. But even though the federal prison system is referred to as "country club prison" it isn't really a place where anyone in their right mind wants to live. And your chances of getting court? Almost a guarantee!
    Answer Applies to: Nevada
    Replied: 4/14/2014
    Law Office of Shawn N. Wright | Shawn N. Wright
    No, all property has to be disclosed when you file a bankruptcy case.
    Answer Applies to: Pennsylvania
    Replied: 4/14/2014
    Law Offices of Eric W. I. Anglin
    Law Offices of Eric W. I. Anglin | Eric W. I. Anglin
    You must list all assets and debts must be listed in your bankruptcy.
    Answer Applies to: Indiana
    Replied: 4/14/2014
    Law Office of Pho Ethan Tran PLLC
    Law Office of Pho Ethan Tran PLLC | Pho Ethan Tran
    When you file for bankruptcy, you are required to disclose all your assets including the land you own, which may become part of your bankruptcy estate to be distributed to your creditors if it is not exempt by state or federal laws.
    Answer Applies to: Texas
    Replied: 4/14/2014
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    No, you have to include all assets, but you may be able to exempt the property, for example, if your sister is on the deed, you would only own your percentage of ownership and that remaining could be exempt, you should talk to an attorney about the details of your case.
    Answer Applies to: New York
    Replied: 4/14/2014
    Stittleburg Law Office
    Stittleburg Law Office | Bernd Stittleburg
    No, you must list all of your debt and all of your assets.
    Answer Applies to: Georgia
    Replied: 4/14/2014
    Steele, George, Schofield & Ramos, LLP
    Steele, George, Schofield & Ramos, LLP | Alan E. Ramos
    No. A bankruptcy filing requires that you include ALL of you assets and liabilities. Leaving assets out of your bankruptcy could result in a permanent denial of discharge and criminal liability. Leaving out liabilities could result in them being non-dischargeable.
    Answer Applies to: California
    Replied: 4/14/2014
    Law Office of Andrew Oostdyk
    Law Office of Andrew Oostdyk | Andrew Oostdyk
    More information is needed to answer this question, but you must list all of your assets and all of your debts in a bankruptcy filing. You may be able to claim the property as exempt and/or continue to pay any debts associated with the property. You should have a consultation with a bankruptcy lawyer in your area.
    Answer Applies to: Texas
    Replied: 4/14/2014
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