Personal Bankruptcy Transferring land ownershilp

[Yonnet_1]

My parents are about to go through bankruptcy, but they have some land (not worth much) they don't want to lose. Is there any way to avoid this (ex: signing over the land to one of their daughters)?
thanks

 

[seniorjudge]

I don't think we really want to help anyone defraud creditors.

 

[Yonnet_1]

Perhaps I should explain further, as I have one more question. My parents (both work full time) don't want to declare bankruptcy and have tried everything possible to prevent that/clear their debts the past few yrs. We feel there may be no other choice if things keep up. They have been living with my sister and her husband for the last 2 + years and renting out their primary residence to cover their debts). They do own a plot of land (2 acres/$10,000) but do not live there (no house on it). My sister and I are hoping to save enough to set up a modular there in a few yrs as we are not able at this time to pay for/cover their primary residence. Parents have already accepted they will lose their current house in foreclosure eventually. I think in Florida, primary residence may be exempt in bankruptcy? In this case, what would be their primary homestead (since renters are living there)?
Also, would they be able to declare their land as the primary homestead (with only the intent to build on it)?
Just unsure what to do, and want to know what is legally possible in this case. Thank you.

 

[augustbaby1968]

Can they move even an RV or something like that to the land and put up a mail box and receive mail there? Then that could be considered a residence, Look at New Orleans, thousands live in rvs and temp housing until there houses are repaired. Let the large house go. Look into temp housing on the land. Good Luck