Hi all,
I have a situation that I would like to clear up if possible. I am currently in chapter 13 and pre-confirmation. If I or the court converts the filing to a Ch.7 (provided I don't elect to dismiss), how does this affect the residence? It is currently jointly owned by me and my spouse. All debts are held by me alone; my spouse owes no debt at all.
Everything I read indicates that the house is untouchable but my attorney insists that even though it is owned by TBE (tenancy by the entirety), that the trustee can force a sale and distibute my equity to the creditors and my spouse's equity to her.
This does not make sense. I would appreciate anyone's input on this.
Thanks,
John
I have a situation that I would like to clear up if possible. I am currently in chapter 13 and pre-confirmation. If I or the court converts the filing to a Ch.7 (provided I don't elect to dismiss), how does this affect the residence? It is currently jointly owned by me and my spouse. All debts are held by me alone; my spouse owes no debt at all.
Everything I read indicates that the house is untouchable but my attorney insists that even though it is owned by TBE (tenancy by the entirety), that the trustee can force a sale and distibute my equity to the creditors and my spouse's equity to her.
This does not make sense. I would appreciate anyone's input on this.
Thanks,
John
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