AboutMark J. Markus- Bankruptcy Attorney Expertise Mark J. Markus is a Los Angeles attorney who has practiced exclusively bankruptcy law in California since 1991 and is BV-rated by Martindale-Hubbell. He represents debtors, creditors, and Trustees in Chapter 7, Chapter 11, and Chapter 13 of the bankruptcy code throughout California.
Experience Visit http://www.bklaw.com for more information on bankruptcy in general and Mark J. Markus in particular. Many questions are answered on the web page (hint, hint). The Markus webpage also contains more information on
Question I have a friend who is about to file bankruptcy. I am planning on either loaning her $6000 to get a mobile home or purchasing it myself and basically doing a rent-to-own situation. Would bancruptcy law allow her to "own" the mobile home, and the equity be protected from creditors, or do I really have no choice but to keep it in my name until the bankruptcy is through. I would prefer it to be in her name, unless the money would be basically lost when she files. Thank you in advance for your help.
Answer The answer depends on a number of factors, most importantly the applicable state exemptions laws that would apply to her case. To see more about his, visit <a href="http://www.bklaw.com/exemptions.html">exemptions</a>. It also depends on the value of the mobile home and how much equity she has in it, as well as what the value of all her other assets which need exempting are. There's no way to answer the question without knowing a lot more facts.
