What is the name of your state (only U.S. law)? Ca. I'm a few months from filing a chapter 7. The only money I have current access to is in a joint stock account with my dad and sister. I need to liquidate my 1/3 of this account and have my name removed from the account in the process. I'm not trying to hide it in any way, I need the money to pay for my BK. If we sell 1/3 my name is still attached to the other 2/3 which we want to avoid becoming part of my bankruptcy estate.
My question is, Do I transfer ownership of the stock to the other two owners prior to selling my third or do I sell my 1/3 and then have my name removed, or does it even matter as long as we show how my 1/3 was transferred. We want to be able to demonstrate to the court that I am not trying to fraudulently transfer the funds, but needed the funds for the BK purpose.
It takes about 2 weeks to get the certificate title to sign over to the other tenants.
My question is, Do I transfer ownership of the stock to the other two owners prior to selling my third or do I sell my 1/3 and then have my name removed, or does it even matter as long as we show how my 1/3 was transferred. We want to be able to demonstrate to the court that I am not trying to fraudulently transfer the funds, but needed the funds for the BK purpose.
It takes about 2 weeks to get the certificate title to sign over to the other tenants.
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