QUESTION
Can I go into contract while in chapter 7 and then sell after it has been discharged and closed?
Asked on Apr 04th, 2013 on Bankruptcy - New York
More details to this question:
I know I can not sell home while in chapter 7 without trustee abandoned it.
5 ANSWERS
Bankruptcy Law Attorney serving Austin, TX
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Law Office of Susan G. Taylor
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There's no need to wait until the chapter 7 has been discharged to sell your home. If within 60 days of filing, ask the trustee for permission. If he won't give it, you can file a motion to sell it with the court, go to a short hearing to talk to the judge, & get his permission to sell.
Answered on Apr 08th, 2013 at 12:21 AM
2 Awards
Yes, or you can file motion to abandon and do it in bk.
Answered on Apr 05th, 2013 at 12:06 PM
Yes, of course you can sell your house after your bankruptcy is discharged and closed by the trustee. I hope you claimed an exemption for your home on Schedule C of your bankruptcy petition. Otherwise, your bankruptcy trustee may decide to sell your home and your case will take a long time to close.
Answered on Apr 05th, 2013 at 11:08 AM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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Talk to your attorney. There may be reasons not to enter into a contract at this time, such as equity, exemptions, etc.
Answered on Apr 05th, 2013 at 10:56 AM
Once the Trustee has abandoned the house you are free to sell it. However, if the Chapter 7 case is still pending the title company will undoubtedly want prior to closing either (1) an Abandonment Order signed by the Bankruptcy Judge, or (2) at the very minimum, a Notice of Abandonment filed by the Trustee after service upon all creditors and parties in interest.
Answered on Apr 05th, 2013 at 10:01 AM