QUESTION

Do mortgagors who surrender their homes in Chapter 7 bankruptcy still have quit claim rights, after a bank foreclosure?

Asked on Jun 26th, 2024 on Real Estate - Michigan
More details to this question:
I recently bought a home through a sheriff's sale in Michigan. Months prior to the sheriff sale, the mortgagors, a husband and wife, both surrendered the home in Chapter 7 bankruptcy, which was completed and discharged before the foreclosure sale. Now that I have bought the mortgage, do the mortgagors still have the usual six months redemption rights, including the right to sell a quit-claim of their rights to a third party? If they were to do that, wouldn't they have to re-open their closed bankruptcy case?
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1 ANSWER

Real Estate Attorney serving Bloomfield Hills, MI
Partner at Borman-Lahti PLLC
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You will need to hire legal counsel to quiet title on their quit claim deed.
Answered on Jun 27th, 2024 at 7:42 AM

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