QUESTION
Would I be able to keep funds after sale of rental home that I filed under bankruptcy after I pay loan off?
Asked on Jan 27th, 2017 on Bankruptcy - Oregon
6 ANSWERS
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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Since you filed in 2009, I assume your case is closed and the trustee has abandoned all assets. Which means you can probably keep any proceeds of a sale over the loan balance but to be sure have a bankruptcy lawyer take a look at your case.
Answered on Jun 01st, 2017 at 6:36 AM
Pay an experienced lawyer for one or two hours of their time to review your file. Asking for this kind of legal advice is like calling a random doctor on the phone with you asking questions about an Xray and lab result the doctor has never seen, including your medical records.
Answered on Apr 04th, 2017 at 9:27 AM
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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Generally yes. But check with your lawyer as to other liens against the property. This is very important.
Answered on Apr 04th, 2017 at 9:27 AM
Yes, unless the bankruptcy trustee identified the rental home as a non-exempt asset after your hearing in 2009.
Answered on Mar 27th, 2017 at 7:13 PM
Yes, if your bankruptcy case is closed you are free to keep the proceeds from the sale of any of your property.
Answered on Mar 27th, 2017 at 7:13 PM
An attorney would need to review the bankruptcy file to be sure that the rental property is not part of your bankruptcy estate. Based on what you have disclosed, I am simply not able to say for sure.
Answered on Mar 27th, 2017 at 7:13 PM