QUESTION
After chapter 7 is discharged, can I sell my house with equity?
Asked on Sep 17th, 2016 on Bankruptcy - Nevada
More details to this question:
I am waiting for discharge papers of chapter 7 bankruptcy. Can I sell my house after chapter 7 discharge and are there any repercussions?
7 ANSWERS
Yes (this is a blind answer. I am assuming you have nothing else lingering in your CH7. If you want an absolute answer, pay an attorney to review your file with you).
Answered on Oct 12th, 2016 at 7:08 AM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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You can sell your house after your Chapter 7 is dismissed but you'll have to pay the mortgage and any other liens out of the proceeds.
Answered on Oct 10th, 2016 at 7:29 AM
You sure can sell your house without repercussions after your discharge comes in and your case is closed. However, before the case does close, you may want to obtain a title report to make sure there are no judgment liens or other liens involving this property that can still be resolved in your Chapter 7. Bankruptcy alone does not remove or resolve liens, but in some instances, there are procedures available to remove these liens.
Answered on Oct 07th, 2016 at 7:08 PM
Bankruptcy Attorney serving Seattle, WA
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The Law Office of Marc S. Stern
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There are two parts to a bankruptcy, the discharge and the administration. Normally the discharge is entered about 60 days after the conclusion of the 341 hearing. Administration can take years. Until the house is no longer property of the bankruptcy estate, (this happens when there is an order of abandonment or the case is closed) the trustee has rights in the house sale in these circumstances is not allowed.
Answered on Oct 07th, 2016 at 7:08 PM
If the house was properly listed on the schedules there are no limits on selling after discharge.
Answered on Oct 07th, 2016 at 7:08 PM
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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You can sell it if you have exempted your equity or if the Trustee has 'abandoned it.'
Answered on Oct 06th, 2016 at 6:14 PM
2 Awards
You may sell your house at any time; however, it will require court approval unless your case is closed.
Answered on Oct 06th, 2016 at 6:08 PM