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Yes, but you must get permission from the Court. You do not technically own the home while you are in the bankruptcy - it is property of the bankruptcy estate.
Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.
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∙ 16y ago
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Can you sell a home that is in bankruptcy?
No.
Can you sell your home while under bankruptcy?
Yes..However, an attorney should answer this question..I do believe the bankruptcy court must approve of the sale..Any proceeds from the sale that you may pocket, could be used to to pay creditors, if the bankruptcy court orders it.
Can you sell your home and buy another if you are in a chapter 13 bankruptcy?
i wouldn't sell it but instead invest in it till it adds value
Can you sell your home in chapter 13 bankruptcy?
Don't sell the home without legal council. It'll be impossible to re-buy later (given the scant information I have at hand).
If you put a bid in for a home for sale by Aegis Mortgage Corp and they have filed for bankruptcy will they still be able to sell it to you?
You can buy it from the bank
If you have assets in your home can you be force to sell it if you file bankruptcy?
If the value of the assets greatly exceed the allowable exemptions, then yes they can be seized.
If you file bankruptcy in one state and own a home in another state may you keep it?
The answer depends on the type of bankruptcy you file and the value of your home. In Chapter 7 bankruptcy, you may be required to sell the home unless it falls within certain exemption limits. In Chapter 13 bankruptcy, you can typically keep your home and create a repayment plan to catch up on missed mortgage payments. It's best to consult with a bankruptcy attorney to understand your specific situation.
If you filed bankruptcy would your house be foreclosed on?
If you file for bankruptcy the court will be in charge of finding a fair settlement. They can require the person in bankruptcy to sell their primary residence if that is the main asset of value. The rules vary by jurisdiction. Independent of the bankruptcy the lender who has a loan secured by the property can foreclose and force the sale of the home if the payments are not made as agreed. A bankruptcy does not release the borrower from keeping up the payments on the home loan. As most loans state, if you fail to keep up with your payments your home is at risk.
Can you sell your property in bankruptcy and what happens to the funds of the sale?
Yes you can sale your home but the bankruptcy court will take the proceeds from the sale and disburse them to your creditors that you owe. No, everything except your selected exempt property belongs to the bankruptcy estate, as of the moment you file, and it can only be sold by the bankruptcy trustee, with permission of the court, to satisfy your debts in an orderly fashion.
If you filed bankruptcy and have decided to sell your house Do you have to let the realtor know about the bankruptcy?
If you filed for bankruptcy and the title company knows about it, then you cannot sell your house. Your title is not free and clear so a buyer could not purchase. It also depends on the bankruptcy, you should talk to your lawyer.
How would bankruptcy affect a license to sell insurance?
Bankruptcy would not affect your license to sell insurance in any way. It does not affect your ability to continue to make money.
Can you sell your house while in bankruptcy?
You cannot sell your property during a bankruptcy proceeding. If a bona-fide offer is made to purchase the property a motion is filed for permission to sell. If allowed, an order is issued by the court that frees the property from the bankruptcy so it may be sold free and clear of your bankruptcy by the trustee. The proceeds from the sale will then be controlled by the trustee in bankruptcy.
