Home on Deed after bankruptcy

[tilliepoo]

Im In michigan...

My chapter 7 bankruptcy was completed as of 2/14/10...my dad is buying a condo that we will both live in and he wants to put my name on the deed as well as his. My lawyer said that this is fine, but im leary of the banks etc..can they come after it? Can this alter his credit rating as well?
Would it help my credit? he is paying cash for the property too.

thanks

tillie

 

[bigun]

If by completed you mean you were discharged then, the courts are through with you. Your financial affairs are your own business.
If he's paying cash then, there is no mortgage and nothing to report to the CRA's. It'll have no affect on his or your credit.

 

[FlyingRon]

Mind you, what your father is doing is giving you half the property. Being on the deed isn't some sort of club membership, it's receiving ownership interest. There's tons of implications here, more so for your father. I'd suggest he review the deal with a financial planner or lawyer.