Portage, MI asked in Bankruptcy for Michigan

Q: I live in MI and am married. If I file chapter 7, am on the title but not the mortgage, will it affect my spouse?

Also my debt is unsecured and in my name only. The mortgage is in his name but not mine. I don't want this to affect him or his house

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2 Lawyer Answers
Mark Bredow
Mark Bredow
Answered
  • Bankruptcy Lawyer
  • Bloomfield Hills, MI
  • Licensed in Michigan

A: Your question is complicated. In a Chapter 7 case, a Trustee is appointed. The Trustee's purpose is to sell any of your assets that he/she can, including a house or land. Whether or not the Trustee can sell your property is a complicated legal question. It cannot be answered without a in-depth review of how the property is titled, the value of the property, the amount owed on the mortgage. It's possible that the Trustee could sell your house, even if your husband objected. On the other hand, its possible that the Trustee will not be able to sell it. Before you file a Chapter 7, please consult with an attorney. You do not want to make a mistake and lose your house. Consult an attorney.

Timothy Denison
Timothy Denison
Answered
  • Bankruptcy Lawyer
  • Louisville, KY

A: Your name being on the title but not the debt means that you own a 1/2 undivided interest in the real property, which will count as an asset. It also depends on how much money is owed on the mortgage in your husbands Name and what the equity is in the property.

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