My husband needs to file bankruptcy due to our business that we closed. He had some personal guarantees with several business accounts. We own two homes. The deeds in both homes are in both of our names. The mortgages are only in his name though.
Your husband's bankruptcy attorney will be in the best position to answer this question. If both homes are protected from creditors under Florida law, then "they" will not make you sell one. The key is whether there are any joint debts.
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Did you jointly sign personal guarantees? Florida law protects husband and wife property that can be properly classified as "tenants by the entireties". Tenants by the entireties property is protected against individual debts of one spouse. The property is not protected as to joint debts. You also can protect homestead property from unsecured debts. You should review these matters with an attorney.
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if you are both on the debts, if a judgment was entered it could attach to the none homestead. If you qualify for a chapter 7, and have the income to reaffirm both mortgages you can keep both homes provided there is no equity in the none homestead property, AND the trustee in the chapter 7 does not elect to sell the none homestead property to an investor. Recently over the past few years in central Florida we have seen investors buy non exempt houses from a chapter 7 trustee even where there is no equity. They do this because they can rent the home out until a foreclosure is completed and they are not subject to the Florida Equity Skimming statute. You need to consult with an attorney to determine what is your situation.
A thorough answer to this requires more facts specific to his financial situation. Generally, he may be able to protect both properties if he does not have any debts that are joint with you. Each debt he owes would need to be examined to make a safe call on this. I strongly urge him to seek a consultation with an attorney.
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