My question involves bankruptcy in the state of: Texas:
I am going through a nasty divorce that has financially ruined me and I am planning on filing Chapter 7.
Here are some facts about my divorce: I currently have a Mediated settlement agreement that outlines everything, but who has to pay her legal fees. (She wants me to pay her $100,000 to cover the legal fees she has racked up after she filed for divorce).
The document also states that she will get $1,000,000 in cash while I get to keep our house (no mortgage, she is on the deed with me) and my IRA.
I have paid her $800,000, but there is no money left to pay her the remaining $200,000.
If the court orders me to pay her legal fees, I am filing Chapter 7. In that case, I don't want to pay her the $200,000 and make her a creditor. Other than her attorney, there are no creditors and I have no debt.
Since she is a creditor and a co-owner of the residence, can she force the sale of the house to get to her $200,000 or is the homestead protected even if she is currently a co-owner on the deed?
What has priority? My right to protect my house or her right (?) to force a sale of the residence to collect?
I do not want to get a mortgage to pay her off after she took all my money and I have to pay her child support and alimony. I also lost my job during the divorce process.
Also, is my IRA protected in Texas?
Thank you guys

