Full question:
I went into a situation to move in with another woman so we could help each other survive financially. Both of our names are on a camping trailer we lived in and now both of our names are on a Mobile Home, (yr. 67), we still owe a private mortgage on. The other woman moved out last July and I have struggled to pay and keep up the Mobile home so I did not lose a place to live, I do not have enough to go anywhere. Now the other woman has filed Bankruptcy and claims that they are taking the property.She left to have another woman take care of her, I am not gay and we had a verbal agreement/ I am not against anyone's beliefs I just need to protect myself and not loss everything. When she left she said we would sell the property when it was right, I have payed everything and the payments on the home are ended this July.
- Category: Debts and Credit
- Subcategory: Promissory Notes
- Date:
- State: Massachusetts
Answer:
A reaffirmation agreement can help you pay specific debts that would otherwise be discharged in bankruptcy. After filing, a debtor may sign this agreement to repay a particular debt, such as a mortgage. This agreement is legally enforceable and must be filed with the court.
The bankruptcy filing triggers an automatic stay, which stops most actions by creditors against the debtor or their property. This means that creditors cannot take action against the property while the bankruptcy is pending.
In bankruptcy, the trustee may abandon property if it is of little value to the estate. If the mobile home is not considered valuable enough, it could be abandoned, allowing you to keep it.
Verbal agreements can be difficult to enforce. If you and your roommate had a verbal agreement to sell the property later, proving its existence may be challenging. It's generally advisable to have agreements in writing.
If you have been making payments on the mobile home, you may have a stronger claim to it, especially if you can show that you have been responsible for the mortgage payments. You may also want to consider filing a motion with the bankruptcy court if you believe you have a right to the property.
For further assistance, you may want to consult with a legal professional to explore your options in this situation.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.