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    Land?

    I am thinking of filing for bankruptcy. It's unsecured credit card debt and all is in my name. My spouse and I have 12 acres of land in another part of the state of Alabama that is totally paid for. My question is, can they take it, sell it and use it to pay off the debt? The title reads my spouse's name (or) my name. Also, the house/land we live at now belongs to my mil so I know that can't take that.

    Thanks in advance.
    Last edited by Swiffer009; 09-30-2008, 04:09 AM.

    #2
    Yes, they can and will take the land. Homestead exemptions only apply to the place where you "actually" reside. Unless you have some sort of wild card exemption that can cover the value of that land, it is toast if you file a chapter 7. You can keep it in a chapter 13, however.

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      #3
      Thank you so much for your reply!

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