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Joint Property in Single Ch 7 - Florida

Maitland, FL |

If filing single while married, do you count half the value property and equity in cars?

ie $20k equity in car joint title = $10k reported
half of all furniture worth $10k = $5k reported

I am asking about vehicles and personal property. I plan to give up the house (in my name only) that is way underwater.

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Attorney answers 4


I would consult an attorney in your area to discuss this. I practice in a marital property state. If you're in a marital property state, then you have to list all marital property on a joint filing. However, according to a quick Google search, Florida is not a marital property state, therefore, I recommend seeking local counsel.


Maybe but not necessarily. If there is equity in this property (more value than liens), you might be risking losing it in bankruptcy. It all depends on whether there are joint debts and whether the property is owned as tenants by the entireties or not. Much more information is needed. Sometimes a bankruptcy filed by one spouse alone is beneficial. Sometimes it is not. You might want to consult with an experienced bankruptcy attorney in your area. Taking this step without fully understanding the situation can be risky.

The comments added are for general informational purposes only and are not intended to provide or be a substitute for legal advice, or create an attorney client relationship.


It depends...on various factors. Sometimes cars are 50/50 and sometimes it's 100% to the debtor (person filing the bankruptcy case.) Furniture and personal property could be fully exempt from creditors or could be 50% to each spouse. There is no way to give a definitive answer to your question without a lot more information from you. If you have this much equity in property, you really need to meet with an attorney. Don't be "penny wise and pound foolish," as they say.

The above information does not establish an attorney-client relationship and is based upon the limited information the questioner provided. Unless you have signed a representation letter and paid a retainer, you are not a client of the firm. You should seek legal advice from an attorney in your area if you want a full legal opinion in this matter.


It depends on how the car is titled specifically. Also, your home furniture is probably worth a different amount of money than you think. BK lawyers do this all day and we know the estimated correct value of things and how to use the exemptions correctly. Everyone has said it, but let me explain it this way: you'll save more money by using a BK lawyer than doing it yourself if you have assets.