QUESTION
When will I be able to get a property under my name if I filed chapter 7 bankruptcy?
Asked on Mar 18th, 2014 on Bankruptcy - New York
More details to this question:
How long after filing chapter 7 bankruptcy can I have a land in my name. I filed 2 years ago, can I put a land in my name.
8 ANSWERS
The issue isn't how soon after you file a bankruptcy can you put real estate in your name. The issue is when did you obtain the legal right to do this and where the money came from. If you are purchasing real estate with money you earned after you filed bankruptcy, the bankruptcy isn't an issue. But if something else is going on, you will want to have a follow up consultation with your bankruptcy attorney to be sure you don't have any problems.
Answered on Mar 19th, 2014 at 2:51 PM
As soon as you receive a discharge.
Answered on Mar 19th, 2014 at 10:50 AM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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Legally, you can buy land the day after you file your bankruptcy petition. As a practical matter, it takes about two years to rebuild your credit to get a mortgage.
Answered on Mar 19th, 2014 at 3:27 AM
Complex Litigation Attorney serving Costa Mesa, CA
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Thomas Vogele & Associates, APC
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There is no rule against you owning property of any kind. Once your discharge is final, you can purchase real or personal property and title it in your name.
Answered on Mar 19th, 2014 at 3:26 AM
Commercial Collections Attorney serving Woodbridge, NJ
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Philip C. Gutworth, P.A.
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Assuming you have received a discharge in your Chapter 7 petition and the case was closed, there is nothing preventing you from obtaining title to real estate; the problem may arise if you want to get financing at a competitive rate.
Answered on Mar 19th, 2014 at 3:26 AM
Should be no problem now!
Answered on Mar 19th, 2014 at 3:25 AM
You are free to own property right after you file your Chapter 7 case. If you are going to buy real estate, it usually takes about 2 years after your discharge before you will become eligible for a mortgage.
Answered on Mar 19th, 2014 at 3:25 AM
You can do it immediately after filing.
Answered on Mar 19th, 2014 at 3:25 AM