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Brent Blanchard
Brent Blanchard, Bankruptcy Attorney
Category: Bankruptcy Law
Satisfied Customers: 1975
Experience:  Twelve years experience in all aspects of debtor & creditor BK.
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if a creditor has been granted a relief of stay, and then sell

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if a creditor has been granted a relief of stay, and then sell the loan to another creditor, does the new creditor have a relief of stay, or do they have to go to court to get a relief of stay?

Thank you for posting your question. BK can be difficult to navigate and fully understand, since most people are involved in the process only once.

After the relief from stay is granted, the creditor can do what it wants with the loan, including sell it to another. The other who buys the loan becomes a "bona fide purchaser for value", who can exercise all rights associated with the loan, without additional court approval.

The other who buys the loan gets the same rights as the original creditor as granted in the order granting relief from stay, no more and no less.

Thank you.

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