Will I lose my property if my ex files bankruptcy? 5 Answers as of May 25, 2011

I am divorced but agreed to have some property in both names. My ex wife is filling for bankruptcy. The property is in California but we both reside in Arizona am I going to lose my property?

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Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
The Arizona exemptions would apply - but i don't have enough facts to answer your questions, such as, what is the property? Does it have equity? What else does she own? Worst case, the trustee would give you the opportunity to buy out your ex's interest - before trying to sell it on the open market. You need to see a lawyer, bring all of the details to that appointment.
Answer Applies to: California
Replied: 5/25/2011
Greifendorff Law Offices, PC
Greifendorff Law Offices, PC | Christine Wilton
You will not lose the CA property if you continue to make the payments. Your ex wife's bankruptcy will discharge her legal obligation to pay that debt, leaving you liable.
Answer Applies to: California
Replied: 5/25/2011
The Law Office of Mark J. Markus
The Law Office of Mark J. Markus | Mark Markus
I have no idea. That depends on a number of factors that you haven't disclosed, including what chapter he/she files under, the value of the property, the amount of equity in the property, and what exemptions she claims on it. Exemption laws are based on the state where you resided for the 2 years prior to filing your bankruptcy case or, if you lived in more than 1 state during that period, in the state where you resided for the greater part of the 180 days prior to that 2 year period.
Answer Applies to: California
Replied: 5/24/2011
Bankruptcy Law office of Bill Rubendall
Bankruptcy Law office of Bill Rubendall | William M. Rubendall
The question of whether a trustee will sell your property depends on what exemptions your wife has claimed in the bankruptcy. Since a trustee has the power to sell the property free and clear of your interest you should consult an attorney who specializes in bankruptcy law for specifics.
Answer Applies to: California
Replied: 5/24/2011
Financial Relief Law Center
Financial Relief Law Center | Mark Alonso
As long as you continue to make the payments on the property it will not be lost through her BK. She will no longer be responsible for the loan after the BK.
Answer Applies to: California
Replied: 5/24/2011
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