ExpertLaw.com Forums

Post Bankruptcy Litigation

Printable View

  • 05-01-2008, 05:52 PM
    hope4best
    Post Bankruptcy Litigation
    My question involves bankruptcy in the state of: California

    Hello Great website! My son [44] went through heXX after a serious accident- Lost his business, homes etc. He was in the mortgage lending biz.[nuff said]

    He filed BK and it is not yet final [but pending in May sometime]. Yesterday he discovered that the "rescission/walk through" doc on his condo had never been signed - which is illegal.

    The condo was included in the BK but as a fact of law, this means he never legally owned the home-
    The lenders of course are aware of the flawed contract but have notified him of the lender sale date- which kicks in after automatic stay is lifted by BK trustee. Doesn't this interpret as willfuly conducting a fraudulent sale? Wouldn't this defraud a subsequent buyer - that the title was clear?

    He has no funds to file suit -- but if he does, after close of BK -and wins - how do the proceeds affect his BK ? His damages include a sizable down payment on the condo -

    If it would all go back to the BK - what incentive would he have to prevent this lending corp. from illegally selling the condo?

    I would really appreciate any comments -They will lock him out in 3 weeks and going nuts trying to figure what to do to help my son.:wallbang:
  • 05-03-2008, 03:19 PM
    LawResearcherMissy
    Re: Post Bankruptcy Litigation
    Is he filing Chapter 7 or Chapter 13? She he receive a settlement while under Chapter 13, his creditors may have a claim to it.

    That, however, is rather putting the cart before the horse. He seems to have a much more pressing issue to contend with, and for that, he needs a qualified attorney. He needs to speak to someone who handles real estate law. The invalid walk-through document could be a problem when trying to include the condo in his bankruptcy.
All times are GMT -7. The time now is 04:35 PM.
Powered by vBulletin® Version 4.2.4
Copyright © 2023 vBulletin Solutions, Inc. All rights reserved.
Copyright © 2004 - 2018 ExpertLaw.com, All Rights Reserved