Quote Originally Posted by Tom523 View Post
It is not illegal to sell your boat at fair market value (to a friend if you want to). Any profit that you get from the boat would be considered a shared property in the marraige though and she has the right to 50% or an agreed portion.. If there is no profit then it doesn't make a difference. If you make a deal with a friend to buy the boat and let you use it, then that is perfectly legal. Should you file bankruptcy down the line you no longer have a debt or the collateral to back up that debt in your possesion. However it is best that your wife agree to the sale before the divorce. She can make the claim that you sold that shared asset to avoid paying her, her share. Judges frown on people trying to get over on the system and smile at those the continue to generously support the children.
yes that is correct,you can sell anything until you file,you will have to note it in the bankruptcy.once filed it has to be cleared through the court..