Bankruptcy...avoiding fradulent charges

[Nguyen27]

What is the name of your state? MI

My brother is in debt and he wants to file for bankrupcty. However, his name is the second name on the deed of our house. If he files for bankruptcy, he is afraid they might reposess the house...so he is having the deed of the house transferred to my sister's name. However, he is also concerned that after filing bankruptcy, they might say that is fraud. My question is...what's a good period of time to wait after the transfer of the deed to declare bankruptcy to avoid possible fraudulent charges? Thank You!

 

[JETX]

what's a good period of time to wait after the transfer of the deed to declare bankruptcy to avoid possible fraudulent charges?

Sorry, but I doubt that any responsible person on this forum is going to help your brother commit bankruptcy fraud.

 

[Ezlpo]

If the house is a concern, then he had better file chapter 13.

 

[Ladynred]

Leave the deed alone !!! Its not worth the risk. How much equity in the house ??
His 'interest' would only be half or less if there's more than 2 people on the deed.
Does he live there ?? If not, he can't use the homestead exemption.

ANY transfer of property like that can be looked at for a year OR MORE, and with the coming changes in the bankruptcy laws, he doesn't have that much time unless he files CH 13 right now.