[likamarie82]

Here is my situation:

I applied for a home mortgage a couple years ago and was denied due to credit score. My aunt in Japan offered to buy the home I wanted as long as I agreed to buy it when I could obtain a home loan. My aunt wired the money to my father so he purchased the home and its in his name. We are now trying to figure out how to transfer the deed to my aunts name. My father is going to be filing bankruptcy and because the home was paid for in cash, they would take it. In all actuality my aunt is the true owner of the home and I live in the home. We have paid all the property taxes every year, my aunt has not made any money on this deal, she is selling me the home for what she paid. Are there going to be any taxes owed if we switch the deed to her name, if this is even possible? How would we go about changing the deed? Thank you in advance for any help!

[AtlantaTaxExpert]

You have not resolved this issue, see out a bankruptcy attorney immediately.

In the eyes of the law AND the bankruptcy court, the house belongs to your father, and they will consider it as part of his assets.