QUESTION
Can I sell my house if I did not sign a reaffirmation on it after chapter 7 bankruptcy discharge?
Asked on Jul 29th, 2014 on Bankruptcy - Nebraska
15 ANSWERS
Yes. But the lien may still need to be paid. You have no PERSONAL liability, but the lien is still valid (barring other possible defenses, like the statute of limitations).
Answered on Aug 05th, 2014 at 10:42 PM
Bankruptcy Law Attorney serving Austin, TX
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Law Office of Susan G. Taylor
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Of course!
Answered on Aug 04th, 2014 at 8:51 AM
Bankruptcy Attorney serving Dallas, TX
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Polk & Associates
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Yes, you can sell your house. Reaffirmation agreements are not required for houses.
Answered on Jul 30th, 2014 at 11:47 PM
You are free to sell the house providing that your Trustee is not trying to sell it. If you have already received an Order of Final Decree from the Court, this means that the Trustee is out of the picture and you can do with the house as you please. You hopefully understand, though, that the outstanding mortgage lien has to be satisfied in order for you to be able to convey clear title, and the way the lien gets satisfied is by paying it at closing. Although the mortgage debt is discharged in your Chapter 7, it would have to be paid in full at the closing for the sale to be consummated.
Answered on Jul 30th, 2014 at 11:47 PM
Domestic Law Attorney serving Vista, CA
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Ralph L. Williams
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Yes, reaffirmation of the debt on the house would not matter. Do make sure bankruptcy trustee either abandoned any interest in house or it was claimed exempt and the bankruptcy case has been closed by the court.
Answered on Jul 30th, 2014 at 11:43 PM
Bankruptcy Attorney serving Seattle, WA
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The Law Office of Marc S. Stern
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Certainly. You still own the house and can sell it. The creditor may or may not still have a lien. Normally, liens pass through bankruptcy and the lien would still exist whether or not you reaffirmed it. I say may have a lien because there have been all sorts of lien forgiveness as a result of the various programs of the federal government. The only way to be sure is run a title report and a credit report.
Answered on Jul 30th, 2014 at 11:42 PM
Bankruptcy Attorney serving Walnut Creek, CA
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Alan E. Ramos Law Offices
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You should be nothing that would prevent you from selling your house, assuming that there are no title problems and that you have equity (if you do not have equity, it would require a short-sale). There is no requirement that you reaffirm your home loan; reaffirmation, in and of itself, does not give you the ability to sell or not sell an asset.
Answered on Jul 30th, 2014 at 11:41 PM
Bankruptcy Chapter 7 Attorney serving Los Angeles, CA
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The Law Offices of Peter M. Lively
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You must wait until after the case is closed, unless the court enters an order abandoning the real property from the estate to you sooner. The reaffirmation agreement doesn't change your rights to sell.
Answered on Jul 30th, 2014 at 11:38 PM
You can sell if you can find a willing buyer and if your Chapter 7 case is closed. The fact that you have received a discharge does not mean that your Chapter 7 case has been closed. If your Chapter 7 case is still open, you will need to obtain Court approval to sell.
Answered on Jul 30th, 2014 at 6:43 PM
Debt Relief Attorney serving Anaheim, CA
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Marlin Branstetter Attorney at Law
You should have no problem selling your house due to not signing a reaffirmation agreement.
Answered on Jul 30th, 2014 at 6:42 PM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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A reaffirmation agreement means that you are agreeing to pay a debt which otherwise would have been discharged in bankruptcy. Since you didn't sign a reaffirmation agreement on your mortgage, you're not liable on the debt but the lender still has a lien on the house. You can sell the house, but the mortgage would have to be paid off by your proceeds at closing. If the mortgage for more than the house is worth, then you can't sell it unless you get the bank to agree to a short sale.
Answered on Jul 30th, 2014 at 5:56 PM
Bankruptcy Attorney serving Overland Park, KS
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Wellman Law LLC
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Yes, you are still the owner of the house. Your personal liability on the mortgage that's has been discharged, but they still have a lien that must be paid from sale proceeds and you are still the owner.
Answered on Jul 30th, 2014 at 9:41 AM
Real Estate Attorney serving Florence, KY
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Linda S. Novakov & Associates, PLLC
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Yes, as long as the existing mortgage is paid off and released, as well as any other liens recorded against the property.
Answered on Jul 30th, 2014 at 8:52 AM
bankruptcy Attorney serving Paul, ID
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Paul N. J. Ross Law, PLLC
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Yes. As long as there is equity, it should sell like any other home.
Answered on Jul 30th, 2014 at 8:51 AM
Yes. Assets listed in your chapter 7 bankruptcy schedules become your assets, after the trustee has abandoned the asset.
Answered on Jul 30th, 2014 at 8:51 AM