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  1. #1
    Join Date
    Feb 2007
    Location
    Michigan
    Posts
    9

    Default Florida Life Estate With Bankruptcy of Remainderman

    My husband and I need to file for bankruptcy Chapter 7 protection due to embezzelment of our life savings. We just found that my husband's name is on title of his Mother's home in Florida. We had no idea, and found out only when we told his Sister of what we were being forced to do.

    The Quit claim deed was dated 11/03 where his Mother deeds, reserving a life state unto herself with the remainder to his sister, a single woman, and my husband, a married man (not his homestead property), as tenents in common.

    He is a resident of Michigan and now is afraid he cannot file without endangering his Mother's home, or having lien holders attach the property. His Mother resuse to change the Property ownership into her trust.

    The home is worth about $300,000 with no liens. It is his Mother's homestead.

    Could anyone help?

  2. #2
    Join Date
    Jul 2006
    Location
    Bikini Atoll
    Posts
    163

    Default Re: Florida Life Estate With Bankruptcy of Remainderman

    Quote Quoting wisdom_seeker
    View Post
    My husband and I need to file for bankruptcy Chapter 7 protection due to embezzelment of our life savings. We just found that my husband's name is on title of his Mother's home in Florida. We had no idea, and found out only when we told his Sister of what we were being forced to do.

    The Quit claim deed was dated 11/03 where his Mother deeds, reserving a life state unto herself with the remainder to his sister, a single woman, and my husband, a married man (not his homestead property), as tenents in common.

    He is a resident of Michigan and now is afraid he cannot file without endangering his Mother's home, or having lien holders attach the property. His Mother resuse to change the Property ownership into her trust.

    The home is worth about $300,000 with no liens. It is his Mother's homestead.

    Could anyone help?
    Homesteaded property in FL is protected from bankruptcy in FL except when the home is in trust. You need to speak with a bk attorney about you being a resident of one state and the house being in another.

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