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WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17213
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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My bankruptcy was fully discharged three years ago in Arizona.

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My bankruptcy was fully discharged three years ago in Arizona. Now a friend wishes to sell me a house worth $75,000 for one dollar. Will I have a problem with the Bankruptcy Court?

WALLSTREETESQ :

Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarificati on

WALLSTREETESQ :

Since you bankruptcy case was discharged three years ago, you would not have any issues with a purchase of a property,

WALLSTREETESQ :

After receiving either a discharge or a denial of discharge, there is a five-year period in which the debtor's case may be brought back to court. However, this only applies to concealment of assets,

WALLSTREETESQ :

if there is any fraud with the sale, it could be an issue,

WALLSTREETESQ :

for example if the property was yours when you filed, and you did not disclose it to the trustee, it could be an issue,

WALLSTREETESQ :

or if you had an agreement with the seller,

WALLSTREETESQ :

prior to the bankruptcy to hide the home,

WALLSTREETESQ :

and to sell it to you afterwards

Customer:

What happened was that our friend purchased the house we lost to foreclosure...he bought the house after our bankruptcy was discharged and has been renting it for the past 2-1/2 years...now he would like to give it to us as a gift...

WALLSTREETESQ :

was the house listed?

Customer:

Yes, the bank took possession and then put it on the market at the end of 2010

WALLSTREETESQ :

in that case, you would be fine, it would not be an issue,

WALLSTREETESQ :

as fraud is not an issue

WALLSTREETESQ :

also, you did not hide your assets

Customer:

No...our friend is an angel

WALLSTREETESQ :

You would be fine,

WALLSTREETESQ :

If you have any further questions please do not hesitate to ask.

WALLSTREETESQ :

If satisfied with our service please provide us with positive feedback, thank you

Customer:

How can I save this...will a copy of this chat de emailed to me?

WALLSTREETESQ :

yes, it would be emailed and saved for your use

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