Chapter 13
Hi
how do one go about selling ones home when you on ch 13 plan
1 do we need a broker
2 a lawyer
we already have a buyer :oops: [ Edited by sassy67 on Date 09/28/2004 ]
Hi
how do one go about selling ones home when you on ch 13 plan
1 do we need a broker
2 a lawyer
we already have a buyer :oops: [ Edited by sassy67 on Date 09/28/2004 ]
To sell a home requires a buyer and a seller plus maybe someone to handle the paperwork,
If you are going to file BK, a judge can order that transactions that happened immediately before the BK filing to be unwound as the assets are considered to be part of the BK. Otherwise people might sell of valuable things on special deals to friends and then declare BK. I believe the period is as long as 90 days before the filing.
It sounds like you should seek legal advice as to what is best for you and if you are selling before the BK how to make sure you do it legally and in a fashion that will make it stick.
BTW - If you sell for full market and otherwise receive fair value then the transaction will likely be left standing. It is assumed that you would still have the cash and would be declaring it as part of the BK filing.
Make sure BK is really the right path as you will be dealing with the clean up for 10 years. Think about how old you will be in 9+ years and what might be going on and then decide if you want to still be dragging the effect of a BK with you at that point.
John
[addsig]
thank's but we file bk in nov 26 we are selling the home so we can get fram under chapter 13 and move on :oops: