Bankruptcy with Ex: Will she lose her home if I file?

October 8th, 2015 by Questions

Hello, there – my wife and I separated about five months ago. We have a separation agreement that outlines clearly what I am to pay her. I make three times her income, so she relies on me for alimony and child support. I also am entangled in a civil matter, which is turning out to be beyond what I can afford (legally). I am considering bankruptcy as I cannot afford the legal fees anymore. The thing is, we had two homes this year. We sold one, and my ex. gave me all the profits from the sale, and I agreed to let her take over the title on the other one. I needed the funds from the first house to pay for my legal fees. Will my ex-be on the hook as well if I go bankrupt? I am worried about the home she is in with my child. There is not a whole lot of equity in it, but the transfer of title took place in the last few months, and now I am possibly going bankrupt. We did write up an agreement…and I did get paid out for the other house. I’m just wondering if my civil matter and going bankrupt will affect her.

Questions

One Response to “Bankruptcy with Ex: Will she lose her home if I file?”


October 08, 2015 at 9:08 am, Jillian Taylor-Mancusi, Trustee | B.A. | C.I.R.P said:

Any separation agreement as a result of a court order cannot be challenged or overturned by a trustee in bankruptcy. If the arrangement relating to the sale and transfers of the homes was part of the separation agreement it is unlikely that it can be attacked. If the transfer of the houses did not come under the court order it may very well be that they will be reviewed by either the trustee or the creditors. If the transaction was bone fides and for value, it is unlikely that your wife will have any difficulty with the transaction. Your wife is well advised to seek legal counsel with regard to the specifics of the situation.

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