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  1. #1

    Default Quit Claim Deed of House to My Mother Prior to Filing Bankruptcy

    My question involves bankruptcy in the state of: California
    My mother is considering filing chapter 13. However, my name is on the house. Is it possible if I can quick deed the house over to my mother so that I would have no part or responsibility should she go forward with this bankruptcy? I have no interest in this house nor do I want any part of it. I have my own household & obligations to be responsible for. Or is it possible if we can file bankruptcy separately? I don't want to get caught up in this whole mess. What other options do I have or what would be in my best interest?

  2. #2
    Join Date
    Jan 2006
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    38,867

    Default Re: Quick Deed House to My Mother Prior to Filing Bankruptcy

    Is there a loan/mortgage on the house? Whose name(s) is(are) on the loan?

  3. #3
    Join Date
    Sep 2010
    Posts
    19,841

    Default Re: Quick Deed House to My Mother Prior to Filing Bankruptcy

    There's no such thing as a "Quick Deed." The term is QUIT Claim. As pointed out, your involvement depends on how it is you came to be owner of the property and whether there were outstanding encumberances (mortgage, liens) in your mother's name.

  4. #4
    Join Date
    Sep 2005
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    98,846

    Default Re: Quit Claim Deed of House to My Mother Prior to Filing Bankruptcy

    Even assuming there aren't financing issues, such as your being on a mortgage that requires the lender's consent before you modify ownership, the transfer of ownership could affect the extent to which your mother's equity in the home exceeds her bankruptcy exemptions and, in the event that you're about to file bankruptcy yourself, could be challenged by your creditors as a fraudulent transfer. You and your mother should discuss this plan with a bankruptcy lawyer so that you fully understand the issues and ramifications before you act.

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