My father wants to sell and buy a new home

[saddebbie]

Hello, I filed for bankruptcy chapter 7 and my last day for objections was today.

I had no objections on my case. My father is moving from his home to a home closer to me. He is up there in years. He has the idea to sell his current home and buy the new home in cash but put the new home in my name. Is this allowed with me filing for bankruptcy 3.5 months ago and my last day for objections being today? I told him that he can't do that but I want to make sure and double check with you guys. Thanks a million.

[screwedupbyRE]

is your Dad open for adoption?

I have a foreign investment which is making me lil $s, though not in papers anywhere in US. My attorney advised me to wait at least 3-6 months after the settlement by court, before I exercise that option.

hope this helps.

[JRScott]

I wouldn't do it, it would be a sizeable asset and even though no fraud was intended the Trustee might take a dim view.

I'd wait until a year after your bk to put in your name.

[JollyGG]

I actually don't see any reason you can't do this. Many people, in the past, before the mortgage industry tightened up bought houses right after bankruptcy. Many people buy cars the minute their bankruptcy is discharged.
If it were to come up which is doubtful, a clear money trail can be shown to prove that it is your father's house.

I'd say if you can wait six months that would be good. But realistically, it may take six months for your father to get his house sold and a new one bought.

Is you father planning on putting the house in your name and his name, or just in your name?

You could also look at other options such as him putting the house in a trust for you.

[southernbelle]

IMO I would wait at least 6 mos to a year before putting it in your name because its too risky otherwise.

And can your dad adopt me too?