Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
So if the person is upside down in both properties there is no danger of losing either due to the bankruptcy?
So if the person is upside down on both properties there is no danger of losing either property due to the bankruptcy?
What if the debtor is upside down on the properties and is trying to get modifications? Can he say that he intends to keep the properties but is attempting to get modifications?
What if someone has land that is co-owned with others in a US Territory? Can that land be sold even though there are others who co-own it and are living on the land?
The debtor does not have much information about the property, in fact he's not even sure he owns it. He said his ex-spouse bought it with her parents and the ex-parents are the ones who are living there now, but it shows up on his credit report. But the debtor believes that there are no mortgages for that property.
If there are other people living on the property who are co-owners, can the trustee still force a sale or will he allow them to buy out the debtor's share?