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Posted on 16-06-2008
Filed Under (Bankruptcy) by admin
jj asked:
Hi, we are preparing to file for bankruptcy. But we have found a house that we would like to buy on land contract. If we would sign the contract now and file for bankruptcy in a few months could this cause an problems with the land contract on the home? Thanks!
Hi, we are preparing to file for bankruptcy. But we have found a house that we would like to buy on land contract. If we would sign the contract now and file for bankruptcy in a few months could this cause an problems with the land contract on the home? Thanks!
Comments
Robert F on 18 June, 2008 at 6:49 am #
The courts will look at this purchess as questionable.
Carl P on 20 June, 2008 at 3:34 pm #
yes the new land and home would become colleral in the bankrupt claim.
need_2shop on 23 June, 2008 at 6:32 am #
Yes absolutely , the creditors will look @ that purchase. And go after it.