My question involves bankruptcy in the state of: California
My wife & I just filed Chapter 7 BK. My wife owns 50% in a residential rental. It was in a revocable trust which ended in 2007 due to the death of her mother. The deed was never transferred to her & her sister. It is still in the name of her mothers estate. Can the creditors touch her equity? Our attorney seems to think that they can, but he is not for sure. Anyone out there know the answer to this situation?
My wife & I just filed Chapter 7 BK. My wife owns 50% in a residential rental. It was in a revocable trust which ended in 2007 due to the death of her mother. The deed was never transferred to her & her sister. It is still in the name of her mothers estate. Can the creditors touch her equity? Our attorney seems to think that they can, but he is not for sure. Anyone out there know the answer to this situation?
Chapter 7: Property Protection
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