Co-ownership of 2 homes and BK13

[Rockwell]

[ColoradoBell]

I don't feel that I have enough knowledge/experience to fully answer your question..and I don't want to steer you wrong,but I co-own my home with my x (we were married.)

what I've been told is that when you file,your interest in the asset becomes the property of the BK court. Since it is difficult to sell 'a share' of a house, the trustee most likely sells the house and gives the other owner their share or asks the other owner if they would like to buy out your share...then your share less any homestead exemption...goes to your unsecuredcreditors after payoff of the mortgages/liens. But since you say your properties are under water,then my guess is that once you prove that, the trustee abandons them. (If you have no equity, then there is nothing left for the trustee and if your mortgages are all paid up, then you get to keep the assets. Finally, if you stop paying,the lender forecloses.