If the person who is on the mortgage with me is filing bankruptcy, how does this effect me?

They tried to get out of paying for the house since they can’t afford their half anymore. All they did was take their name off the title. I know I could take them to court to pay for their half of the loan. I am the primary on the loan.

Asked on October 15, 2011 under Bankruptcy Law, Colorado

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you have a partnership concerning a home where your partner filed for bankruptcy protection, the end result will be that if the petition is approved and a discharge is granted, you will be the sole person obligated on the loan for the home.

If that happens, you have no ability legally to claim any amounts owed on the home that you are paying for from the person who filed for the bankruptcy if there is a discharge. Meaning, you cannot take your partner to court to have him or her pay their half of the loan on the home that you are writing about.

I suggets that you consult with an attorney about the situation that you are in.

Good luck.


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