Q: My husband is filing bankruptcy. We own a duplex however the mortgage is in my name only. Can he quit claim it to me?
We bought it after we were married and he alone is filing chapter 13. He is on deed because of Colorado law.
A: I am assuming he is filing Chapter 7. If your husband transfers any property to you for less than market value within 1 year of filing bankruptcy (and as much as 4 years under Colorado law), it will be deemed a fraudulent transfer and the bankruptcy trustee can void the transfer for the benefit of his creditors. You should consult with a bankruptcy attorney before doing any kind of transfer prior to filing.
Tristan Kenyon Schultz and Owen Hathaway agree with this answer
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A: This partially depends when the property was purchased. If you were married at the time of the purchase, the deed automatically includes a spouse (unless a prenup states otherwise). This means that the duplex is an asset of both you and your husband and must be included in the bankruptcy filing. As a side note, it is very unusual for only one party of a marriage to file for bankruptcy alone because the filing will pull the other spouse into the filing (exceptions may apply to estranged spouses). I recommend that you contact a bankruptcy attorney before filing.
Owen Hathaway agrees with this answer
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