How to protect an asset without committing fraud?

How to protect an asset without committing fraud?

I own a home with another person (not married). There’s little to no equity. We’re both on the loan and title. We went our separate ways amicably; in fact he co-signed a home loan for me recently on my now primary residence. He pays/lives in a house 1; I pay/llive in house 2. If I’m planning a bankruptcy filing, can I first take my name off the deed for house 1 so he doesn’t get dragged into the filing? Can I get my name taken off the loan through bankruptcy without affecting his credit? BTW: He can’t refinance house 1 in his name since there’s little to no equity.

Asked on March 30, 2012 under Bankruptcy Law, Massachusetts

Answers:

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