Comments on: In a chapter 7 bankruptcy, is a property that I own free and clear with a partner considered exempt? http://www.smartbankruptcyguide.com/chapter-7-bankruptcy/in-a-chapter-7-bankruptcy-is-a-property-that-i-own-free-and-clear-with-a-partner-considered-exempt/ Helping you make smart bankruptcy decisions Fri, 23 Sep 2011 08:10:46 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: rpg http://www.smartbankruptcyguide.com/chapter-7-bankruptcy/in-a-chapter-7-bankruptcy-is-a-property-that-i-own-free-and-clear-with-a-partner-considered-exempt/comment-page-1/#comment-3004 rpg Fri, 22 Jan 2010 22:33:59 +0000 http://www.smartbankruptcyguide.com/chapter-7-bankruptcy/in-a-chapter-7-bankruptcy-is-a-property-that-i-own-free-and-clear-with-a-partner-considered-exempt#comment-3004 No, neither the fact that you own it with a partner nor the fact that you own it "free and clear" makes it exempt. Florida (which your screen name seems to indicate you may be from) has an exceptionally generous homestead exemption, but that is for a homestead in which you are living. See a local bankruptcy attorney to discuss how this property may be affected by your bankruptcy filing, and also to discuss other options if the Ch 7 option does not sound feasible.<br><b>References : </b><br>Former Legal Assistant with a bankruptcy law firm No, neither the fact that you own it with a partner nor the fact that you own it "free and clear" makes it exempt. Florida (which your screen name seems to indicate you may be from) has an exceptionally generous homestead exemption, but that is for a homestead in which you are living.

See a local bankruptcy attorney to discuss how this property may be affected by your bankruptcy filing, and also to discuss other options if the Ch 7 option does not sound feasible.
References :
Former Legal Assistant with a bankruptcy law firm

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