Is it legal to file a quit claim deed for my sister’s and my family home before I file for bankruptcy next year?

I have never paid any bills/taxes on the home. My sister is 70 and I am 65. I’ve been married 47 years and owned our own home. Now we live in another state. Am I breaking any law to protect my sister for my mistakes with credit cards? We own our home in our current state of residence.

Asked on September 3, 2014 under Bankruptcy Law, Florida

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

Please understand that no legal specialist can advise you to defraud creditors, which is what transferring assets prior to bankruptcy can be considered. And a trustee can look back 2 years. I would strongly suggest that you seek help from a debt advisor (reputable) about possible options like debt consolidation or a home equity line of credit (which is deductible on your taxes). Good luck.


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