Full question:
I am considering letting my house go into foreclosure and filling for debt relief or bankruptcy. My concern is that my name is on my 90 year old grandmothers condo title, bank accounts and investments. Could lenders/creditors go after her assets to obtain payment? All of her assets are held jointly with her, my cousin and my self.
- Category: Bankruptcy
- Date:
- State: Nevada
Answer:
Bankruptcy of a joint tenant severs a joint tenancy into equal shares. If there are more than two joint tenants, the ones who are not bankrupt will continue to have a joint tenancy of their half share.
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.
