Q: Can I file for Chapter 7 Bankruptcy if my mom has me down as a Shareholder on her Coop?
I want to file for Chapter 7 Bankruptcy, I do not own any assets but my mom owns a co-op in NYC and has me down as a Shareholder. If I file for Chapter 7 Bankruptcy, can the court come after my mom home?
A: This is considered your asset as well. While an exact answer depends on factors that require more information, most likely yes, the trustee would come after this co-op.
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A: Yes, as the co-op is yours. But, depending on the value, it might be exempt. This is a technical issue, so call a lawyer.
A: The coop is your asset too, although you may be able to claim an exemption and protect it. Hire a local attorney who can help you.
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