Legal Question in Bankruptcy in Arizona
bankruptcy
If I purchase land as an Owner Carry Loan and the Owner under goes Bankruptcy, will the total loan become due and payable right away
1 Answer from Attorneys
Re: bankruptcy
You inidicate that your question is about AZ law. It appears your question was posted to CA attorneys. While I cannot answer anything related to AZ law (not being licensed in that state), I can tell you that generally in California, the Bankruptcy Court has no ability to accelerate (unless you are in default) the loan just because the note holder files bankruptcy. You may wish to repost the question to AZ attorneys if that is where the property is located.
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