I have a question about bankruptcy law . . .

[OneBlueSky]

not that I'm planning to declare or anything . . . but just in case I ever had to, what would happen if you own your home with someone else who is not involved in the bankruptcy . . . and refuses to do anything to help out (e.g. refinance, take a second mortgage, etc.) . . . can they touch that asset? . . . or would it be protected by virtue of the fact that someone else owns half of it? . . .

[efhmc]

1. It will depend on how that person is related to you. Is it a spouse?

Being a spouse makes a big difference in most states.

[serryjw]

2. Just a guess.....but I don't think so.....

We don't know how a home would be protected within the new BK law that is working it's way thru congress. They could force you to sell it OR most probably put a lean on it and the house couldn't be sold until the lean is satisfied.?? Only time will tell

[FloridaPat]

3. Also depends on the state. A lot of lawyers give you a free first

interview to go over the details.