I'm new poster to this forum, but have been reading for a while and I am very impressed by knowledge & wisdom shared. I'm hoping to file for Ch.7 in a few months myself but I'm worried about a second vehicle that right now is registered to me but belongs to my ex-boyfriend. My car insurance cost was so much less than his that when he bought his car we registered and insured it to me. Now that we have split I need to sign the title over to him and I'm afraid that when I file it may look like a "fraudulent transfer of property". Does anyone have any experience with this? Should I plan on waiting a much longer period of time to file to avoid this problem? I'll be filing in Massachusetts. Any advise is much appreciated.
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Definitely a question for attnys in your area.
It is an area of concern, that's for sure.
If you were "selling" the vehicle to a disinterested 3rd Party and using the money for "Living Expenses", that would be one thing.
Transferring the title to a former BF is trading an asset of value to the BK Estate to an Insider. Insiders are family, friends, and close personal or business associates. The Trustee can go back to your Ex and sieze the car.
So definitely run this issue by attnys as you Consult around. They can best advise you how to handle this situation in your Court.Filed Ch 7 - 09/06
Discharged - 12/2006
Officially Declared No Asset - 03/2007
Closed - 04/2007
I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.
Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...
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