What to do if my ex-wife is filing bankruptcy and the house is in my name but the mortgage is in hers?

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What to do if my ex-wife is filing bankruptcy and the house is in my name but the mortgage is in hers?

I got divorced 3 years ago. My ex signed the deed over to me for $1.00. I pay the mortgage and it is current but it’s in her name. Now she’s filing bankruptcy. Since the deed is in my name alone, can the bank take my house?

Asked on May 17, 2011 under Bankruptcy Law, Pennsylvania

Answers:

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

Answered 10 years ago | Contributor

Let m,e tell you that I do not thinkthat you are in a good position here and that you should seek legal counsel as soon as you can to set the matter straight.  The bank will seek to set aside the transfer of the property.  I am sure that the mortgage note states that the property can not be transferred without notice to the lender and I am also sure that the transfer would have caused acceleration of the mortgage.  What you should have done was to refinance the property in your name only.  Move quickly here.  Now that she has filed for bankruptcy a whole host of other wheels will be set in motion. Good luck. 


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