Co-ownership of house

I own a house with my ex spouse, He lives in the home and pays the mortgage i have not llived in the home for the last 5 years but i still am on the title as owner. I havent had the money to make him buy me out, and don’t want to give the house to him. I am technically intitled to half of the house when/if he sells it. Will you make him buy me out to get money towards the bankruptcy? If not how does this affect my ownership in the house.

One Response to “Co-ownership of house”

A licensed trustee said...

If you file an assignment then your trustee assumes your ownership interest in the house. Your trustee will likely contact your ex and offer them a deal to buy your equity poistion from the trustee. If your ex doesn’t accept the deal your trustee has the right to go to Court and force the sale of the house.

This can become a fairly complicated legal battle depending on where you and your ex are in the divorce process. Please take the time to explain this issue in detail with which ever trustee you use before you file bankruptcy – it may affect how your case will be handled.