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Bankruptcy: Time frame for property transfer

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asked on Oct 23, 2016 at 21:59
by   need help urgently
edited on Mar 6, 2017 at 02:58
 
The house is under joint name but my hubby has transferred the share to me in September 2014. Recently he received notice to attend court next month. So I want to ask, can Jabatan Insolvensi Malaysia (JIM) or bank auction (lelong) my house once he is charged for bankruptcy? Is it after 5 years only consider safe? Beside the property, if I have safety box joint name with him, will they take action also? Thanks for your advise. 
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answered on Oct 30, 2016 at 04:50
by   fireskull
edited Mar 6, 2017 at 02:51
 
So easy... just close that safety box account. After 5 years, can dispute any actions from Jabatan Insolvensi Malaysia (JIM).

Court action, is it summons or bankruptcy notice?

Whatever gold bars or family heirloom, jewelries, can be, inside the box become 50% property of Creditors who has file POD after bankruptcy.

In the golden days, bankrupts can only wear shorts and singlets out in public to signify bankruptcy. In some instances the wife or wives become property of rich warlords till full debt is realized.
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answered on Feb 27, 2017 at 07:46
by   Wonder
edited Mar 6, 2017 at 02:39
 
@Fireskull, thanks for your advise. After I closed the joint name safety box and I have opened another new safety box which is under my name will JIM still can take it? 
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answered on Feb 27, 2017 at 13:09
by   vkpc
after I closed the joint name safety box and I have opened another new safety box which is under my name will JIM still can take it?

No.
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