bankruptcy- divorce or quit claim

[Dad0254]

What is the name of your state (only U.S. law)?

 

[Ohiogal]

What is the name of your state (only U.S. law)?

Try again. Don't preview.

 

[HomeGuru]

What is the name of your state (only U.S. law)?

**A: what exactly is your question?

 

[disneykid52]

Cat got your tounge?

 

[Dad0254]

Heres my questions

Sorry guys, i must have previewed and never sent
Currently separated for 2years, my X has not paid for any bills including the House. He lives in the house now with our over 18 children. I am not sure what other marital bills there are but I am now trying to start fresh. We just got served with Foreclosure papers. We agreed that I quit claim the house to my X. My question is do I get divorced first and grant him the house in the settlement, quit claim and then go chapter 7. What order should these steps be taken? Thank you

 

[Ohiogal]

Sorry guys, i must have previewed and never sent
Currently separated for 2years, my X has not paid for any bills including the House. He lives in the house now with our over 18 children. I am not sure what other marital bills there are but I am now trying to start fresh. We just got served with Foreclosure papers. We agreed that I quit claim the house to my X. My question is do I get divorced first and grant him the house in the settlement, quit claim and then go chapter 7. What order should these steps be taken? Thank you

DO NOT QUIT CLAIM THE HOUSE to YOUR EX. And if you are dad, how is your ex a "he"? Quit claiming the house does NOTHING for you but rather deprives you of your ownership interest in the home while still leaving you responsible for all mortgage for which you may have signed.

 

[Dad0254]

Understood, I am Tom and Teresa is my Freind. So just divorce award the house to the X and then go BK. She would like to start fresh, she has no Credit cards or any other loans outstanding except the house. In the event nothing is done does not want too pay for the deficiency.

 

[FlyingRon]

I'm not even sure why you think quit claiming the property is any sort of good idea (for either you or your ex).

You still need to tell us the state for us to give the best answer.

If nobody is paying the mortgage and you are in foreclosure, it doesn't matter who you quit claim the property to, the bank will end up owning the property (most likely) or it will be sold to someone else negating any transfer you make. Even if not in foreclosure, as pointed out, you're giving away the house while remaining 100% responsible for paying the mortgage. NEVER a good idea.

If you are actually contemplating bankruptcy you do NOT want to go around transferring any assets without consulting with the attorney handling the bankruptcy. You have more complex legal issues with a divorce-bankruptcy interplaying than just figuring out what to do with the house.

 

[Ohiogal]

I'm not even sure why you think quit claiming the property is any sort of good idea (for either you or your ex).

You still need to tell us the state for us to give the best answer.

If nobody is paying the mortgage and you are in foreclosure, it doesn't matter who you quit claim the property to, the bank will end up owning the property (most likely) or it will be sold to someone else negating any transfer you make. Even if not in foreclosure, as pointed out, you're giving away the house while remaining 100% responsible for paying the mortgage. NEVER a good idea.

If you are actually contemplating bankruptcy you do NOT want to go around transferring any assets without consulting with the attorney handling the bankruptcy. You have more complex legal issues with a divorce-bankruptcy interplaying than just figuring out what to do with the house.

Technically, OP has nothing to do with any of this. His girl friend is the married one whose ex is in the house and wants a bankruptcy. But I agree with the rest of what you have stated. The other issue is if Tom is romantically involved with Theresa, depending on the state, that could prove to be an issue as well.

 

[Dad0254]

Florida, understood about the quit claim. There are no other assets and divorce will be mutually agreed. So she should just divorce and then BK out?

 

[Dad0254]

Yes Teresa is my girlfreind. She is sitting beside me now and is the one pursueing the BK. The X is fine and has been for last two years. My question remains the same does she divorce first before BK?

 

[Ohiogal]

Florida, understood about the quit claim. There are no other assets and divorce will be mutually agreed. So she should just divorce and then BK out?

She can't just determine she is going to declare bankruptcy. Many times the divorce court wants to know if that is going to happen. A bankruptcy affects the divorce. She really should get an attorney to discuss with her the possible issues a BK would have on her divorce and separately.

 

[Dad0254]

She has an executed simple disolution ready to be filed to county court. No children under 18 and alimony or support. She will consult an attorney on the BK and divorce.

 

[Dad0254]

Her only concern is the deficiency and any martital debt being wiped out in the BK. Being married for 27 years has no debt other then jointly. She is looking for the best way to start fresh?

 

[Dad0254]

Thank you for the help, have a great day guys.