Hello, What you have is called an "executory contract
." The bankruptcy trustee has the power to "affirm" (accept) or reject the contract. If the contract is affirmed, then you will be allowed to complete the transaction, as it appears in the contract. If rejected, then you have a claim for damages against the debtor's bankruptcy estate. Whether or not the debtor's estate has any assets with which to pay those damages is unknown (usually not, but if the house has equity
, then it's possible). At this point, you cannot force the contract to closing, because that would be a violation of the bankruptcy stay. You could file a motion for on grounds that you will be damaged if you have to wait. What I would do is contact the bankruptcy trustee, explain the situation, and see if he would be willing to not object to your motion for relief from stay. If he says, "yes" (and he probably will), then you would file the motion, and the court could let the transaction proceed unimpaired. In some jurisdictions, the bankruptcy court
has local forms with which you can file a motion for relief from stay. In others, there are no forms, and you would have to know how to draft a legal pleading. If you really want this house, you may have to hire a bankruptcy lawyer to assist you -- It's a bit of a tricky exercise, what you're trying to accomplish. I hope I've answered your question. Please let me know if you require further clarification. And, please provide a positive feedback rating for my answer -- otherwise, I receive nothing for my efforts in your behalf.Thanks again for using justanswer.com!