Q: Can the trustee make me pay my ex-husbands creditors using my home's value?
We divorced about 2 years ago and settled the property by signing I would refinance the house, to take his name off, & I would pay him only 30K, and I could not file for alimony. That was our agreement and it was signed off by the judge at court. Now he files for chapter 7, & the trustee is saying it was a fraudulent transaction and he should have gotten 125k, which is half of the house's value. Now they want the difference 95K to pay off his debt, or they are saying they have the right to sell the property. It was not a fraudulent transaction because he agreed to only 30k as long as i don't pursue alimony. I don't work, and i don't want to loose my house.
A: You need to immediately seek an experienced bankruptcy attorney to assist you in looking into this matter. In addition, your family law attorney who assisted you with the settlement should be consulted as well. Unfortunately, the filing of the bankruptcy provides the chapter 7 Trustee the ability to review the agreement you reached and determine if the agreement was fair and reasonable - even though your ex-husband agreed, and the Trustee does have the ability to sell the property if something cannot be resolved. Do not hesitate to seek legal advice on this immediately.
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