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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2815
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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My wife is in Chapter 13. We currently have renter in our

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My wife is in Chapter 13. We currently have renter in our home - through November of this year (and they have expressed interest in buying our home at the end of the lease). We are looking to go Chapter 7. Our question is this - Can we sell the home now? Do we need 'court' approval since my wife is in chatper 13? What options can we offer the current renters? BTW we live in the Fort Worth, TX area.
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 6 years ago.
Yes, since the case is pending, you need court approval to sell the home. You need to prepare a motion to sell, include all of the financials, including where the proceeds (if any) will go. Depending on your ch13 plan, they may need to be paid into the case. Once the court issues the order, that document will allow the closing to go thru, so be sure to give enough time to get the order (usually about 30 days should cover the required notice needed.) If you convert, you would still need court approval while the case is pending, but the conversion usually only lasts 90 days, so it is sometimes easier to just wait it out!!

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