I have joint ownership of a home with one other person (50/50) and that other person is now filing bankruptcy. What do I do?

If your ex-girlfriend files for bankruptcy, her interest in the house will become an asset of her bankruptcy Estate. The trustee is in charge of all assets of a debtors Estate. If your ex decides to sell her interest in the house to you AFTER she files bankruptcy, she will have to get approval to sell from the bankruptcy court to ensure that she is selling her interest at fair market value. The problem she may then face is that any monies she receives from the sale will then become an asset of the estate (unless she can claim the money as exempt) and those monies will be distributed to her creditors, in a Chapter 7 bankruptcy. If she sells her interest to you BEFORE she files bankruptcy, she may not be able to keep the money. There are very strict and specific bankruptcy laws about transfers of interest before filing bankruptcy and what assets (including money) a debtor may keep after filing bankruptcy. There are also other concerns if she files a Chapter 13 bankruptcy. Your ex should most definitely consult with a bankruptcy attorney BEFORE she files bankruptcy OR before she decides to sell her interest to you.