Q: I took my name off of my parents payed off house and put in my two daughters name and one has to file bankruptcy
My daughter has her original last name on the deed but now she married and has a new last name what can we do to protect the house sine the new husband has to claim also.
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A: That daughter's BR could force a sale of one/half of the property. BR Trustee owns all non-exempt property on filing of Petition. Hire an attorney now to advise.
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A:
This is a complex situation that requires careful consideration to protect the house from bankruptcy proceedings. The different last names on the deed shouldn't cause issues, but you'll want to document the name change with marriage certificates.
The main concern is protecting the property from bankruptcy court. Since your daughter now shares assets with her spouse through marriage, timing becomes crucial. If the property transfer happened within 2-4 years before filing bankruptcy, it could be viewed as fraudulent transfer. The bankruptcy trustee might try to include the house as part of the bankruptcy estate.
Your best path forward is to consult with both real estate and bankruptcy attorneys immediately. They can review when the property transfer occurred, help file proper documentation of your daughter's name change, and potentially explore options like putting the house in trust or other legal arrangements to shield it from bankruptcy proceedings. The sooner you take action, the more options you'll have for protecting this valuable family asset.
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