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Can a primary owner keep a secondary property while filing for bankruptcy if they have a renter with a rent to own agreement?
Wiki User
∙ 15y ago
In a Chapter 13, yes. In a Chapter 7, it depends on whether the debtor has no equity or has exemptions available to cover the equity, or can pay the trustee the value of the equity. Otherwise, the trustee will collect the rent and either sell the property to a new owner or wait a short period for the tenant to buy it. The trustee will want the rent in any event, even if he may decide to abandon the property in the current real estate market.
Wiki User
∙ 15y ago
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Can a secondary card holder discharge the debt if they declare bankruptcy?
No. The secondary card holder can only discharge his/her own obligation to pay. The primary will staill have to pay.
How do you write a personal ad about a writer?
You as the primary writer, must contact the writer you wish to contact, the secondary writer, and get written agreement to the writing of the primary writer, when writing of the secondary writer has been written
Will a bank repossess a car from co signer if primary goes bankrupt?
Only if the primary has said s/he will surrender the property in the bankruptcy and/or if the cosigner does not make the payments due.
If the primary owner files bankruptcy and has a co-signer can the co-signer continue to pay and take ownership of property?
That's an issue that has to be decided by the court, the lender and the exemption status of the property.
Difference between primary server and secondary server?
Primary Means, it is individual there is no dependence, But Secondary will allays depends on Primary, If you want to do Secondary, you should complete primary first, There is no precondition to primary, but for Secondary Primary is the Precondition, first you should do primary, then only you are able to do secondary.
What is primary and secondary victim?
primary: Raul Secondary: Julie
What is Primary demand and secondary demand?
primary and secondary demand
A transformer has 20 primary windings and 100 secondary windings If the secondary voltage is 25 V find the primary voltage?
Voltage on primary/Primary turns = Voltage on secondary/Secondary turns
What are the two coils in a transformer?
primary and secondary coilsAnswerPrimary and secondary windings.
What are the body's primary and secondary responses?
Primary is IgM and secondary is IgG
How are secondary color related to primary colors?
Secondary colors are colors that are made from primary colors EX: Primary- red, blue =secondary- purple Primary- blue, yellow =secondary - green etc.
What does a primary mortgage lender do?
The primary mortgage lender holds the first mortgage. If his mortgage is not paid, he sells the property. He gets paid. You may have a second mortgage. If the second mortgage lender is not paid, he can sell the property. If he sells the property, the primary mortgage lender gets paid first, then the secondary lender gets paid.
