Question about joint owned home

[cb2010]

To make a long story short, I purchased a house with my ex in 2006 and I have not lived there since 2007. He has never refinanced and my name is still on the house/mortgage. I have no interest in this home and have asked him repeatedly to get it out of my name, but he has not been able to.

I am now considering filing bankruptcy, but I'm concerned with what that would mean as far as the house. I don't want to involve my ex in my bankruptcy and I don't want him to lose the house either (as my child lives there 50% of the time).

Anyone have advice or experience in what happens in this sort of situation? Thanks in advance!

[LadyInTheRed]

Is your name still on the title and is there any equity?

If your name is on title and you have equity that you can't exempt, the trustee will want to sell your non-exempt interest in the property. Your ex can probably buy your interest from the trustee if he wants. Think of it as a forced refinance and don't let it get in the way of doing what you need to do. Talk to an attorney to get a better idea of how the local trustee is likely to handle the situation.

As far as the mortgage is concerned, as long as your ex keeps the payment current and can qualify to finance a purchase from the trustee, there shouldn't be an issue.

[despritfreya]

By “ex” are you talking your “ex-husband” or your “ex-boyfriend”?

If it is your ex-husband did you purchase the home before or after you got divorced?

If before, what does the divorce decree state?

If the divorce decree states he gets the home and owes you nothing then you have “bare legal title” pursuant to a court order with no equitable interest in the property. The Chapter 7 Trustee gets what you have and since you have no equitable interest in the property, the Trustee will do nothing.

If the ex is an ex boyfriend or you purchased the home with your ex husband after you got divorced, it will be up to the ex to prove to the Trustee that you contributed $0.00 to the home and therefore you have no equitable interest in the property. In this situation the Trustee may try to blackmail one of you (or both) to get some $$ into the bk estate.

With this type of issue I strongly recommend that you hire an attny to assist you with the bk. Do not try to file pro se.

Des.

[cb2010]

Ex boyfriend. My name IS on the title, and I doubt there is much equity. We bought it for $38000 and I know we still owe about $33000. He's also current on the payments.

[despritfreya]

Ex boyfriend. My name IS on the title, and I doubt there is much equity. We bought it for $38000 and I know we still owe about $33000. He's also current on the payments.

It will be a good thing if there is little to no equity and your ex can show you contributed nothing but do expect your trustee to look at this issue. Again, please make sure you have an attny.

Des.

[cb2010]

Thanks! I wouldn't dream of doing this without an attorney, I have too much anxiety about this to go it alone.