Bankruptcy Law

Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.

Ask a Lawyer,
Get an Answer ASAP!

Bankruptcy Law

Hi, I have a question about a property that my husband owns

Customer Question
in Pennsylvania. He filed...
Hi, I have a question about a property that my husband owns in Pennsylvania. He filed bankruptcy qhite some time ago and is surrendering the home in the process as most of the debt was tied into the home due to refinancing etc...So, we decided that we would purchase a new home with a more reasonabe mortgage in my name since I am not on the mortgage of the property owned in Pa. and have decent credit. Since we moved out about two months ago we understand it can possibly take quite some time for the process to get under way and it doesn't seem likely anytime soon-the precise time for the sheriff sale to occur is unclear however we don't want to have to keep dealing with taking care of or investing in the property since we moved about an hour away. At the same time we are responsible for the property ie-mowing the lawn, taking care of snow, and maintenance etc..until the sale occurs. We talked to my husband's bankcruptcy attorney and understand that renting the place out is still an option as long as the prospective tenants are aware of the situation etc..Now what we are trying to understand is this..is there a way for a person to rent the property from us until sheriff sale and then to place a bid on and hopefully purchase the property when it goes up for sale without having to move?
Submitted: 6 years ago.Category: Bankruptcy Law
Show More
Show Less
Ask Your Own Bankruptcy Law Question
Answered in 4 minutes by:
10/5/2011
Bankruptcy Lawyer: Ellen, Attorney replied 6 years ago
Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36,715
Experience: Bankruptcy Lawyer. Experienced.
Verified
Welcome!


Welcome to JustAnswer and thank you for the opportunity to provide you with information..


This depends - can you please tell me whether the lien holder has refused to take a deed in lieu or take title in the bankruptcy.

Thanks!

Ask Your Own Bankruptcy Law Question
Customer reply replied 6 years ago
Sorry to sound unintellegent on the subject but how would I know because I'm not sure?
Customer reply replied 6 years ago

There was no settlement or agreement between my husband and the bank so as far as I the bank did refuse to take the title in the bankruptcy because he still is considered the property "owner" until sheriff sale ever occurs.

Bankruptcy Lawyer: Ellen, Attorney replied 6 years ago

I am working on your answer. One moment please.
Ask Your Own Bankruptcy Law Question
Bankruptcy Lawyer: Ellen, Attorney replied 6 years ago
Thank you for your patience. If my answer is not clear to you, please ask me for clarification by using the reply button.

Your question:
is there a way for a person to rent the property from us until sheriff sale and then to place a bid on and hopefully purchase the property when it goes up for sale without having to move?

Answer:
Yes. Since your husband remains the title holder of the property, he may lease the property and the lease would stay in effect after the foreclosure sale. Here's why

Under the Helping Families Save Their Homes Act, an occupant of a foreclosed home has 90 days after the sale to vacate unless the occupant has a lease. If the occupant has a lease, the lease continues after the foreclosure sale.

I hope that it helps to know this information

Thank you in advance for remembering to click accept. If you experience difficulty using the accept button, please let me know as JustAnswer pays me for my time only if the "accept" registers.
Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36,715
Experience: Bankruptcy Lawyer. Experienced.
Verified
Ellen and 87 other Bankruptcy Law Specialists are ready to help you
Ask your own question now
Ask Ellen Your Own Question
Ellen
Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36,715
36,715 Satisfied Customers
Experience: Bankruptcy Lawyer. Experienced.

Ellen is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Terry L.

Terry L.

Attorney

2,679 satisfied customers

Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.

cortrightlaw

cortrightlaw

Attorney

511 satisfied customers

Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.

JoeLawyer

JoeLawyer

Attorney

376 satisfied customers

Attorney in the practice of Bankruptcy Law since 1996

A.J.

A.J.

Attorney

262 satisfied customers

Experienced consumer bankruptcy attorney.

Fritz

Fritz

Attorney

209 satisfied customers

Florida attorney with extensive experience in Chapter 7 and Chapter 13 consumer bankruptcy cases

Law Girl

Law Girl

Attorney

153 satisfied customers

I am an attorney.

Paul K, Esq.

Paul K, Esq.

Attorney

141 satisfied customers

10 years Exp., Great customer service, Prompt responses.

< Previous | Next >

Related Bankruptcy Law Questions
We are a non-profit group...we are behind in our rent, owe
we are a non-profit group...we are behind in our rent, owe sales tax etc...I am considering bankruptcy for the non-profit but need guidance before I make that decision...I would like time to liquidate… read more
Lori
Lori
Juris Doctor
281 satisfied customers
Not sure where you arelocated. I have a large student loan
Not sure where you arelocated. I have a large student loan debt from for-profit college. Tried getting partial forgiveness but government not doing anything with the applications. I an set to pay in J… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I am going to give you my situation as background. First, I
I am going to give you my situation as background. First, I have a job in the $75K range so will need to file Chapter 13 five year bankruptcy. I live in Florida and have a home in Louisiana with rough… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I have filed chapter 13 on October 13, 2017 at t he united
I have filed chapter 13 on October 13, 2017 at t he united states bankruptcy court with out my plan paperwork being filed with it. I just got my letter with instructions on what needs to be filed and … read more
DrakeLAW
DrakeLAW
Juris Doctorate
978 satisfied customers
My coworker is filing for bankruptcy... I saw her count out
my coworker is filing for bankruptcy... I saw her count out $1440 in cash today. She stated to me that you have to have a minimum amount of money in your account to file, She always has cash on hand. … read more
RobertJDFL
RobertJDFL
Attorney
Juris Doctorate
5 satisfied customers
What situation claim bankrupcy? I only get temporary
What situation claim bankrupcy? I only get temporary maintenance, but I can not pay taxes. I am still middle of divorce, I barely pay rent, I pay Lagan fees from credit card debts. Tax penalty and int… read more
DrakeLAW
DrakeLAW
Juris Doctorate
978 satisfied customers
The Ch 11 Debtor is an individual whose assets include
The Ch 11 Debtor is an individual whose assets include ownership of shares in two closely held companies. The Debtor has produced financial statements which demonstrate the value of his equity interes… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I am being sued by my ex-landlord. Our family business
I am being sued by my ex-landlord. Our family business leased commercial store from him in 2008. I signed the lease in my name because the corporation was inactive at that time. I am not sure but i th… read more
ScottyMacEsq
ScottyMacEsq
Doctoral Degree
17,321 satisfied customers
Can I rent to own a home in Tennessee with chapter 7 and
Can I rent to own a home in Tennessee with chapter 7 and chapter 13 bankruptcy on my credit?… read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
My tenant filed bankruptcy, chapter 13, in March. I got a
Hi, my tenant filed bankruptcy, chapter 13, in March. I got a dismissal letter from Court in June. However, I got another mail, a modify plan today. Based on that plan, my past due rent will be all wi… read more
DrakeLAW
DrakeLAW
Juris Doctorate
978 satisfied customers
My tenant filed a bankruptcy case to avoid paying the past
Hi, my tenant filed a bankruptcy case to avoid paying the past due rents. Recently, I got a mail from Court, which mentioned that "the Clerk of Court is directed to dismiss the Chapter 13 case unless,… read more
LawTalk
LawTalk
Attorney at Law
Juris Doctor
128 satisfied customers
Someone, who is married, is filing BK chapter 7, alone, on
Someone, who is married, is filing BK chapter 7, alone, on debt owed alone, acquired several years ago. He owns and occupies (1) his homestead, a single family home with an HOA, (2) co-owns with spous… read more
Phillips Esq.
Phillips Esq.
Attorney
Juris Doctor
18,356 satisfied customers
Bankruptsy quesiton, ma, not yet, i would like to know if
i would like to know if rent expenses count as means test… read more
LegalGems
LegalGems
Juris Doctorate
10,717 satisfied customers
My tenants recently filed a bankruptcy case and I filed an
Hi my tenants recently filed a bankruptcy case and I filed an eviction case. I just called the bankruptcy court and learned only wife filed bankruptcy, not the husband. Under such situation, can I sti… read more
DrakeLAW
DrakeLAW
Juris Doctorate
978 satisfied customers
BANKRUPTCY: I have 2 questions 1. Debtor owes the Landlord
BANKRUPTCY: I have 2 questions1. Debtor owes the Landlord $4800 of back rent; and they are still occupying the residence. Landlord has not filed for eviction YET. Can the debtor include the $4800 of b… read more
Phillips Esq.
Phillips Esq.
Attorney
Juris Doctor
18,356 satisfied customers
A tenant in a Federally Subsidized 236 complex has filed
A tenant in a Federally Subsidized 236 complex has filed Chapter 7 Bankruptcy, it was stamped by the Court as entered on 1/31/17, and has included rent due in the case. At Jan 31,2017 her balance due … read more
socrateaser
socrateaser
1,031 satisfied customers
He owes far more than the small claims $5000 in back rent. I
He owes far more than the small claims $5000 in back rent. I have a signed lease. Would I be eligible for some settlement after they sell the remaining assets if they have any value? Do I have to do a… read more
Ray
Ray
Lawyer
Doctoral Degree
30,865 satisfied customers
I rented some equipment, to a party on credit.while he was
i rented some equipment, to a party on credit.while he was in a chapter 11 Bk What are my remides for payment… read more
Dwayne B.
Dwayne B.
Juris Doctor
28,693 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x