QUESTION
If the house is not tied up in the bankruptcy, can we sell it?
Asked on Mar 13th, 2013 on Bankruptcy - New Jersey
More details to this question:
My chapter 7 bankruptcy has been discharged. Our house was not tied up in the legal case. Can we sell our house and use the profit to buy a new house?
8 ANSWERS
During bankruptcy it usually is not a good idea to buy or sell anything. You can do as you please after you get your discharge. The Trustee may have an issue with you buying or selling an personal or real property during bankruptcy.
Answered on Mar 18th, 2013 at 1:50 PM
2 Awards
Yes you can do so. You will need to wait for your case to be closed, however. Or obtain an order from the trustee abandoning the house to you in advance of the closure of your case.
Answered on Mar 14th, 2013 at 1:44 PM
Even though your bankruptcy has been discharged, your case may still be open to allow the trustee to process any work that must be performed on your case. While you can sell your house and do what you like with the proceeds, the title company may need court approval to close escrow if your bankruptcy is still open. I would suggest that you check the court records on pacer to find out the status of your case.
Answered on Mar 14th, 2013 at 1:44 PM
Appellate Attorney serving Grosse Pointe Farms, MI
at
Musilli Brennan Associates, PLLC
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If your case has been completed and closed, and you continue to own your home, you are no longer under the jurisdiction of the bankruptcy court. Therefore you can sell a house and use any excess as you wish.
Answered on Mar 14th, 2013 at 1:43 PM
Bankruptcy & Debt Attorney serving Syracuse, NY
at
Theodore Lyons Araujo
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You can sell it but you will need the permission of the bankruptcy court.
Answered on Mar 14th, 2013 at 1:43 PM
Yes you can
Answered on Mar 14th, 2013 at 1:42 PM
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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If the bankruptcy estate has been closed. Yes.
Answered on Mar 14th, 2013 at 1:42 PM
Bankruptcy Law Attorney serving Livingston, NJ
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Law Office of Stuart M. Nachbar, P.C.
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As long as case is discharged and closed, then yes, based on what you wrote, you can sell.
Answered on Mar 14th, 2013 at 1:42 PM