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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.

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โˆ™ 2006-04-03 14:42:54
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Q: Can you sell your home while under bankruptcy?
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Can you sell your home if you are under chapter13 bankruptcy?

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.


Can you sell a home that is in bankruptcy?

No.


Can you sell your home after you've been dismissed from bankruptcy?

Yes


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.


Can you ask to have your Chapter 13 bankruptcy dismissed before your confirmation hearing because you want to sell your home?

You can dismiss a bankruptcy at any time. You can sell a home during a bankruptcy as well. 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.


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 my home while in a chapter 13 bankrupcty and keep the profits?

You will need to obtain the consent of the Chapter 7 trustee before selling any property of the bankruptcy estate.


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).


How can you refinance your home for a lower interest rate while in a chapter 13 bankruptcy if you do not want to pay off the bankruptcy and do not want to 'cash out'?

While participating in a chapter 13 the petitioner cannot refinance, sell, transfer or otherwise real property without receiving permission from the bankruptcy court/trustee to take the action. Therefore the issues cited are not relevant until/unless permission is granted.


Can creditors force me to sell my home to pay credit card debt in California?

Creditors can force a person into bankruptcy, if you are not already, but generally speaking, you cannot load up all your net worth in your home, and refuse to pay everybody else. This is why creditors can force a person into bankruptcy under the right circumstances. They usually don't, but they can.


Can you sell assets during bankruptcy?

No, all your assets...and all your debts and obligations..are under the controll of the Court..as you asked!


What happens to GM dealers if GM goes bankrupt?

If GM declares bankruptcy and stops making the vehicles sold by a GM dealer, then that dealer will have to find something else to sell or go out of business. Some forms of bankruptcy do not require that the company stop operating, but merely require that they operate under the supervision of a court while they sell off assets and reorganize to better pay off their debts. In that kind of a GM bankruptcy, many GM dealers may continue to have product to sell.


When can you sell your car after filing for bankruptcy?

What kind of bankruptcy? 7? 13? If your bankruptcy case is still open, you cannot sell without notice to the trustee and a motion to sell. If you exempted the car, the proceeds may not be exempt. Check with your lawyer or a bankruptcy lawyer in your state.


Can you sell life insurance if you filed bankruptcy?

Yes... as long as you are not an ex-felon you can sell life insurance (even if you have bankruptcy)


How long do you have to wait to sell your home after a bankruptcy is discharged?

In most cases, you should be able to sell the property immediately after the case is close. However, you still shold consult a qualified bankruptcy attorney to review your case before taking further action.


Can you sell property after filing bankruptcy?

You are not supposed to sell any property after you file bankruptcy. Those assets can be used to pay your creditors.


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.


Can you sell your home while you are on Medicare?

Medicare isn't like welfare. You can sell your home, move to an apartment and still have medicare.


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.


Is a workers compensation settlement exempt under chapter 7 bankruptcy in Connecticut?

In Chapter 7 bankruptcy, the bankruptcy trustee cancels many (or all) of your debts. At the same time it might also sell (liquidate) some of your property to pay your creditors. Chapter 7 bankruptcy, also called "straight" or "liquidation" bankruptcy, is so named because the law is contained in Chapter 7 of the federal Bankruptcy Code.


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 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.


Bankruptcy and Home Ownership Laws?

If you ever have to file for bankruptcy, one of your main concerns will center on your home. While bankruptcy laws vary between states, most bankruptcy laws regarding home ownership are similar in their intents and their implications for you and your future. Most people think that they will lose their house if they have to file for bankruptcy. While this may be the case, often it is not and depends on what kind of bankruptcy protection that you are seeking. Under the United States Bankruptcy Code, individuals can file for either chapter 7 or chapter 13 bankruptcy protection from their creditors. Chapter 7 bankruptcy is bankruptcy in the traditional sense. After filing all of the pertinent documents, a court trustee with order that your assets be liquidated in order to pay off your creditors. If you still owe money after your possessions have been sold, many of them will be discharged by court order. On the other hand, chapter 13 bankruptcy protection is quite different. Rather than having your debts discharged, you will submit a repayment plan to the courts that explains how you will get out of debt and what you can afford to pay off each month. In essence, chapter 13 bankruptcy is a form of debt consolidation. If you are a current homeowner and file for chapter 7 bankruptcy, you may still be able to keep your home without being force to sell it or being foreclosed on by the banks. Depending in which state you reside, by filing for chapter 7 bankruptcy, you may be in breach of your mortgage agreements, which will allow the bank to foreclose on your home and proceed with an eviction. However, you may be able to qualify your home for an exemption by proving that the equity that you built into the home over the years cannot be accessed for liquidation very easily. If you can do this, you must also prove to the courts that you are financially capable of making your monthly mortgage payments. If not, then the banks can proceed with a foreclosure. Filing for chapter 13 bankruptcy will make it easier for you to remain in your home. Because as part of your filing you will agree to a repayment plan, you can file for bankruptcy without being in breach of your mortgage agreement. Any late mortgage payments that you owe will be included into the payment plan and you can continue making your normal, monthly mortgage payments.