Results 1 to 3 of 3
  1. #1
    Join Date
    Apr 2012
    Posts
    3

    Default Treatment of Real Property Held for Another in Bankruptcy

    My question involves bankruptcy in the state of: California


    1- Debtor files Chapter 7, which currently does not have income.

    2- Holds real property for another person, which has been paying mortgage the whole time, and is current
    .
    Will the Debtor be able to reafirm debt?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,817

    Default Re: Is Real Property Held for Another an Asset in Bankruptcy

    This is an issue you'll have to discuss with your bankruptcy lawyer, with full disclosure of the facts.

    From what you've told us so far, it would appear that any equity would be seen as an asset of your estate.

  3. #3
    Join Date
    Jan 2010
    Location
    New Jersey
    Posts
    3,604

    Default Re: Is Real Property Held for Another an Asset in Bankruptcy

    The "real property" is the debtors, not the "other person" that has been paying the mortgage.
    I'm not a lawyer, but I did stay at a Holiday Inn Express last night.......

    1. Sponsored Links
       

Similar Threads

  1. Chapter 7: Treatment of Private Education Loans in Bankruptcy
    By kpowers27 in forum Bankruptcy Law
    Replies: 9
    Last Post: 11-09-2011, 04:00 PM
  2. Foreclosure: UP Railroad Criminal Trespasses My Real Property and Destroys Personal Property
    By gataheart in forum Buying, Selling and Conveying Real Estate
    Replies: 1
    Last Post: 11-15-2010, 04:52 AM
  3. Life Estates: Selling Real Estate Held in a Life Estate
    By tauruz in forum Real Estate Ownership and Title
    Replies: 6
    Last Post: 03-04-2009, 03:39 PM
  4. Chapter 13: Is Real Estate Held in an Irrevocable Trust Safe in Bankruptcy
    By haggis in forum Bankruptcy Law
    Replies: 1
    Last Post: 08-17-2008, 06:31 AM
  5. Bankruptcy Issues: Treatment of an Investment Property in Bankruptcy
    By joelanderson in forum Bankruptcy Law
    Replies: 1
    Last Post: 02-08-2006, 04:12 AM
 
 
Sponsored Links

Legal Help, Information and Resources