Legal Question in Real Estate Law in Arizona

Bankruptcy

I sold my house in 2005 to an investor.

He never took the loan out of my name

and so its still on my credit. I am

pursuing filing for Bankcruptcy. Will

this hurt him in any way pr what can io

do to get my house back.


Asked on 3/23/09, 5:57 pm

1 Answer from Attorneys
Donald Scher Donald T. Scher & Associates, P.C.

Re: Bankruptcy

You nolonger own the house, so it is not an asset of yours to list in your bankruptcy petition. The loan is still a liability that should be listed as one of your debts. Your filing should not hurt the investor's interests, although the way that you and he have handled the transaction may require him to refinance the loan.

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Answered on 3/23/09, 11:06 pm


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