Will I still be co-owner of our home and car if I filed for bankruptcy and didn't reaffirm mortgage but my husband did not file bankruptcy? 24 Answers as of February 18, 2014

I am married and I filed chapter 7 but my husband didn't. I didn't reaffirm the mortgage or car loan. If he pays them off, am I still co-owner? Can the mortgage company keep me from the home after it is paid off?

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The Law Offices of Katie M. Stone
The Law Offices of Katie M. Stone | Katie M. Stone
Bankruptcy takes care of your legal obligations to pay on the loans (discharged debts); however, it does not take care of the title. You will still be on the title to the car and the house as long as the assets are jointly titled and no transfer of title has taken place. If your husband pays off these loans and no transfer of title has taken place, then you are still on title to the assets as a co-owner. I hope you found this answer useful.
Answer Applies to: Florida
Replied: 2/18/2014
Indianapolis Bankruptcy Law Office of Eric C. Lewis
Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
Bankruptcy discharges debt - it does not change the ownership of exempt property.
Answer Applies to: Indiana
Replied: 2/14/2014
Law Office of Susan G. Taylor
Law Office of Susan G. Taylor | Susan G. Taylor
Yes, but you can never be held personally liable for any deficiency.
Answer Applies to: Texas
Replied: 2/11/2014
The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
Whether you reaffirm or not has no affect on ownership. If you are on the deed then you are an owner.
Answer Applies to: New York
Replied: 2/5/2014
Eranthe Law Firm
Eranthe Law Firm | Cate Eranthe
A reaffirmation has nothing to do with title of your home and car. It only has to do with the debt and how it is treated. If you reaffirm you are still personally liable for the debt. If you do not reaffirm, there is no personal liability but the lien still exists so the property must be paid for in order to keep it. Unless there is a Deed transfer you are still on title to the home. Title to an auto is different but still depends on the ownership documents and not who pays for the loan. If the mortgage is paid off, the lender has nothing to do with the home or who lives there.
Answer Applies to: California
Replied: 2/5/2014
    Stuart P Gelberg
    Stuart P Gelberg | Stuart P Gelberg
    You are still an owner.
    Answer Applies to: New York
    Replied: 2/5/2014
    Garner Law Office
    Garner Law Office | Daniel Garner
    If you were a co-owner before you filed bankruptcy, you would still be a co-owner afterwards. Of course, you were supposed to disclose your half-interests in those assets in your bankruptcy papers. I assume you did. The mortgage and the car loan are promissory notes and your liability on those notes has been extinguished by your bankruptcy. Those promissory notes are secured by your home and car, and whether you reaffirmed those debts or not, the liens of the creditors against the deed on your home and the title for your car remain in place. Once those debts are paid, the creditors must release their liens against those assets but they would not alter the ownership. Therefore, they can't keep you from the home after it is paid off. If your husband defaults on either loan, however, he would lose the assets through foreclosure of the home or repossession of the car. If you claimed bankruptcy exemptions for your half-interest in either asset, then you would be entitled to half of any proceeds actually received by your husband, up to the amount of exemption you claimed for that asset. Of course, you might have to sue your husband to get your share in that scenario.
    Answer Applies to: Oregon
    Replied: 2/5/2014
    The Schreiber Law Firm
    The Schreiber Law Firm | Jeffrey D. Schreiber
    The title to the property (house and car) are entirely different than the liens on them. Reaffirmation relates to the debt on the property, not on the title to the property. If the loans are not paid then the house could be foreclosed or the car repossessed, but that is the only foreseeable way the lender can affect the title. But if they are paid, then no.
    Answer Applies to: California
    Replied: 2/5/2014
    GARCIA & GONZALES, P.C.
    GARCIA & GONZALES, P.C. | Richard N. Gonzales
    You are still the owner notwithstanding any Reaffirmation Agreement, if they are paid off. Title to the property does not change, so you are fine.
    Answer Applies to: Colorado
    Replied: 2/5/2014
    Deborah F Bowinski, Attorney & Counselor at Law | Debby Bowinski
    The title on the deed and the obligation on the mortgage loans are two different things. The lender has no control over your joint ownership of the property. The only exception to that would be if the loan became delinquent and the lender went through foreclosure proceedings to gain title to the property themselves. As long as there was no unprotected equity in the property that your bankruptcy trustee sold for the benefit of your creditors, your ownership interest remains as it was before you filed your bankruptcy case.
    Answer Applies to: Colorado
    Replied: 2/5/2014
    Portland Bankruptcy Law Group
    Portland Bankruptcy Law Group | Christopher J. Kane
    Yes, you remain the co-owner of both the house and the car. When you reaffirm a debt, you agree to remain liable for that entire debt. But when you reaffirm a debt, that does not affect whether you own the collateral or not. The lender still retains their security interest and their right to repossess or foreclose if you default on the debt.
    Answer Applies to: Oregon
    Replied: 2/5/2014
    Paul Stuber, Attorney at Law
    Paul Stuber, Attorney at Law | Paul Stuber
    It is most likely that nothing happened with the ownership of the property after the chapter 7, so you are still a co-owner.
    Answer Applies to: Colorado
    Replied: 2/5/2014
    OlsenDaines, PC
    OlsenDaines, PC | Kristoffer Sperry
    Your bankruptcy only eliminates your liability on the home and car loans. If you name was on the deed to the house and the title to the car prior to bankruptcy then they will remain after the bankruptcy.
    Answer Applies to: Idaho
    Replied: 2/5/2014
    Law Office of Mark B. French
    Law Office of Mark B. French | Mark B. French
    Reaffirming has to do with your personal liability on the mortgage, not with your ownership. It sounds like the bankruptcy case is over, so if the Chapter 7 Trustee did not take the property then you still own your interest in it. Remember that the house and care are still subject to the liens of the mortgage company and car lender however. If your husband pays off the loans then you would still own half, but you may have an obligation to reimburse him since he paid more than his share of the debt. Once the home loan is paid off the mortgage company would have no reason to keep you from it.
    Answer Applies to: Texas
    Replied: 2/5/2014
    Goldsmith & Guymon
    Goldsmith & Guymon | Marjorie Guymon
    Yes, bankruptcy does not remove your name from title to property. Once the property is paid off, you will receive title with your husband.
    Answer Applies to: Nevada
    Replied: 2/5/2014
    Meister & McCracken Law Firm, PLLC | Joanne M. McCracken
    You should ask your bankruptcy attorney these questions because how the mortgage is written is not an indication of ownershipjust an indication of liability for debt. I cannot respond to this based on the information given.
    Answer Applies to: Arkansas
    Replied: 2/5/2014
    Kirby G. Moss PC | Kirby G. Moss
    The bankruptcy does not affect your ownership of the home. If still on the deed, you still are an owner.
    Answer Applies to: Indiana
    Replied: 2/5/2014
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    Reaffirmation has nothing to do with ownership. You will still own them.
    Answer Applies to: California
    Replied: 2/5/2014
    Bushhorn Law Offices | Thomas D. Bushhorn, Esq.
    You need to seek advice from your bankruptcy counsel.
    Answer Applies to: Indiana
    Replied: 2/5/2014
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    As long as the mortgage payments are made and you were able to claim your house as exempt on your Chapter 7, your ownership rights will not change because you filed bankruptcy.
    Answer Applies to: Nevada
    Replied: 2/5/2014
    Law Offices of James Wingfield
    Law Offices of James Wingfield | James Wingfield
    Filing a Chapter 7 bankruptcy case - and even a discharge of your personal liability under the mortgage - does not, in and of itself have an effect on the title to your home. So, the quick answer is no. However, you should keep in mind, if there is equity available to you in the home that exceeds the amount of your available exemptions, then the Chapter 7 trustee could potentially sell your interest in the house, or even both your interest and the interest of your spouse, to a third party buyer. Be sure to work with a qualified bankruptcy attorney before filing any bankruptcy.
    Answer Applies to: Massachusetts
    Replied: 2/5/2014
    Bird & VanDyke, Inc.
    Bird & VanDyke, Inc. | David VanDyke
    You are still Co owner of the home until you deed the property to someone else.
    Answer Applies to: California
    Replied: 2/5/2014
    Law Office of Michael Johnson
    Law Office of Michael Johnson | Michael Johnson
    You are still the owner. In regards to the car, be careful, as the car company does have the right to repo it if you don't reaffirm the vehicle.
    Answer Applies to: Florida
    Replied: 2/5/2014
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