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Joint tenancy

My wife and I started up a business and it failed after two years, we are getting ready to file for bankruptcy and ran into a problem.
My wife’s mom put her condo into joint tenants for with her three children, one of the creditors found this 25% that my wife has joint tenancy and said that they will try to force sale of the property.
What are our options.

Thanks in advance

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One Response to “Joint tenancy”

A licensed trustee said...

It is very doubtful that a creditor will force the sale of the condo, since your wife only has a 25% interest in it. However, this is a serious situation, so you should consult a personal bankruptcy trustee to determine what will happen to the condo if your wife goes bankrupt.