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  1. #1
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    Sep 2005
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    Default Re: Simplified Dissolution with Property

    I don't see why you could not proceed with a simplified dissolution, but I am personally skeptical of leaving such a large liability unaddressed. Have you come to an agreement as to ongoing maintenance and expenses, or as to any liability that follows an eventual foreclosure or short sale?

    You are correct that if your estate is already (otherwise) divided, you do not need to list any items that remain to be exchanged.

  2. #2

    Default Re: Simplified Dissolution with Property

    Thank you so much for your response.
    Trust me, I would love to address such a "large liability", but really don't have many options. The house is $80,000 underwater with a broken AC as well as other multiple problems. There hasn't been a payment made since Sept. last year. It certainly wasn't a first choice to walk away from the house. There's much more to it, but I won't get into all that.
    I'm considering filing chapter 7 after divorce and before foreclosure, but need to research it further. You know when chapter 7 is your best option, things have deteriorated.

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