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  1. #1

    Default Going Bankrupt While Wife Owns Properties

    My question involves bankruptcy in the state of: California

    Chapter 7:

    I'll try to simplify the problem by putting it into an example.

    Example: If a couple gets married in the 2001. Then, 3 years later (2003) the husband files for bankruptcy. There are 3 properties, of which one is under the name of the husband and wife(Title under the name of both, not mortgage) . One under the name of the wife which is paid in total(Title under wife name, not mortgage). The other property is under the name of the wife and an associated(Title under wife and associates name, not mortgage).

    The husband only mentions the property for which he shares ownership with wife. He doesn't mentioned the other two properties under the name of the wife. He declares under perjury of law that the only asset he has is the joint property, nothing else at that point.

    Can his statement later be use to impeach him in case of a divorce?

    Can he be convicted of perjury?

    Does he have a legal claim to the other property he failed to claim?

    or

    Can he be ask: Did you commit perjury by failing to disclose all property or you have no interest in the other properties?

    Thanks!

  2. #2
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    Default Re: Going Bankrupt While Wife Owns Properties

    If he has sworn under oath that certain property is premarital, separate property of his wife, it would be more difficult for him to come back a decade later and argue, in effect, "That was just a lie to fool my creditors, and I was the actual owner or owned an equal share." But it is quite possible for property that was once separate to merge into the marital estate by virtue of payment of mortgages and expenses, refinancing, use, retitling, etc.

    Have your lawyer review the full facts and present claims, and form a deposition strategy based upon the actual facts.

  3. #3

    Default Re: Going Bankrupt While Wife Owns Properties

    Quote Quoting Mr. Knowitall
    View Post
    If he has sworn under oath that certain property is premarital, separate property of his wife, it would be more difficult for him to come back a decade later and argue, in effect, "That was just a lie to fool my creditors, and I was the actual owner or owned an equal share." But it is quite possible for property that was once separate to merge into the marital estate by virtue of payment of mortgages and expenses, refinancing, use, retitling, etc.

    Have your lawyer review the full facts and present claims, and form a deposition strategy based upon the actual facts.
    Well, the bankruptcy form (Schedule B-Personal Property) does not mentioned anything about the other properties. According to the form, he is require to "list all property of the debtor of whatever kind". Either it be as Husband only, Wife only, or joint. He only list one property. And leaves the other two out as they didn't exist.

    Would it still be as difficult to prove that?



    And, thank you! If your an attorney, I am really grateful for your help. Yes, we are looking for an attorney, but we want to be better prepare to make questions. We have had bad experiences with some lawyers, we are taking it slow and being cautious.

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