Often when debtors are considering bankruptcy they're worried about property that is in their name but being used and paid for by a relative or friend. Ordinarily all valuable assets would be subject to evaluation and/or possible liquidation by the bankruptcy trustee...but there are some exceptions.
For example: If your granddaughter was the primary user of a vehicle that listed you as the owner, the bankruptcy court would most likely not seize the property. However debtor would be required to list the property in their bankruptcy filing and would need to prove that although the legal title is in the debtor's name the granddaughter owns the "beneficial interest."
In other words, the debtor needs to prove that the granddaughter is the real owner by providing evidence such as cancelled checks (for the car payments), car insurance in the granddaughter's name and other documents that show the granddaughter as the primary user. If the vehicle is valuable, expect a challenge by the bankruptcy trustee and the creditors.
Navigating this type of situation can become very complicated, so use a professional bankruptcy attorney to help you. Contact a Dallas-Fort Worth bankruptcy attorney to help you understand how bankruptcy can help you protect your assets.