The day before, the borrower declared BK13....no problem I thought, as their arrearages are substantial, and their payment plan would be a great cashflow ROI, the main reason we bought this note.   

Have these numbers in email, but didn't get any signed papers declaring the matter closed.

Funny how we'll forget that a lot of them saw it every one of those years, but the only year we'll remember them predicting, is the year it actually comes...and they will say, "see I told you so", and be declared an expert.

If a property is only in one name (even though it was purchased with the money of two persons) and both persons receive income is it possible to declare these profits or losses 50/50.

In addition I’m sure there are plans in the works for composting, recycling, community gardens, and the displaying of various flags and sindry bumper stickers declaring a safe and hate free environment.

It even runs and sounds like good ol' American Muscle.

Declares emergency, effective on passage.

The PSA gets signed, You are given any documentation that is needed (seller's disclosures, rent rolls, t-12, bank records, sched C's etc, inspection is done, any re-trading due to BIG discrepancies in what your D&D found and what the seller declared to you, wait for title to be done and the financing to be complete sign the closing paperwork and get the keys. 

He has now informed me that the company has been shut down and he may soon be declaring bankruptcy.

If that is the case, the co-owner could potentially declare the house to be his/her exempt homestead and/or could declare bankruptcy and exempt the home that way.