If i file chapter 3 bankruptcy can my ex buy the house out from under me?
CharitaMy ex refused to sign the quick claim deed on the house that was awarded to me in our settlement therefore prohibiting me from refinancing it. I had previously filed Chapter 13 bankruptcy but then withdrew because of the mortgage workout plans. If I go ahead and file chapter 13 can he buy the house out from under me?
BerylIf your ex was supposed to give you total interest in the house (along with the mortgage debt I presume), he is in violation of the divorce settlement. He needs to sign the Quit Claim Deed. Talk to your divorce lawyer. It would be in his best interest to sign it. If you file Ch 13, it could impact his credit since his name is on the mortgage paperwork.No, he can't force you to sell the house to him.
ErichFirst of all, it's Quit Claim deed, and second of all, you need an attorney. Something isn't adding up here. Usually when couples divorce and the marital residence reflects both parties on the deed and/or mortgage, the Judge requires that one party quit claim their interest in favor of the other, who must then qualify for financing on their own. Like I said, something isn't adding up here.You need to ask an attorney what your options are. Depending upon the laws of your state, you may be able to convey the property to a livng trust such as the "Your Name Revokable Living Trust, Your Name or Childrens' names as Trustees" and not lose the house if you file for reorganization bankruptcy. Some states don't allow the primary residence to be an asset for foreclosure purposes.If you live in a downturn area like parts of Texas, Florida, Nevada, Arizona or California, check once again to see if you can arrange a short sale - a sale by which the bank accepts less than what is owed on the mortgage.The IDEAL buyers under this arrangement, of course, are YOUR family members. Mom? Dad? Brothers and Sisters? Before your ex gets to capitalize here, your family members need to step up to the plate. They can always quit claim their interest to you down the line.You really need an attorney here. Borrow the money from family members for a consult, so you know what you're looking at. If you don't, you're in a weakened position and have nobody to blame but yourself if things don't work out the way you want.