Boating Partner Claiming Bankruptcy, Need Help
Our family owns 50% of a boat, 2001 X-9, with another family. They have title, but we have a written contract with them that was executed in 2008. Unfortunately, we never got around to working out the title with DMV. I just learned they're about ready to file for bankruptcy. Is there anything I can to do to protect our assests? My understanding is that once they claim bankruptcy, everything goes to a trustee, and at that point it's outside my control. Any help or recommendations would be appricated.