Status of Co-Owned Homes in Bankruptcy
There is some shared inheritance by siblings who have equal rights on that property. While the land can be measured and equally divided, the inheritance of the house offers no such luck. It cannot be divided, albeit it can be sold, and the money can be equally shared. Some people are emotionally close to their inherited house and stay in them, while other siblings may move on. What happens when the other sibling files a chapter 7 bankruptcy case? For consultation do log in to Recovery Law Group. The property comes under scrutiny and needs to be sold [...]