Legal Question in Bankruptcy in California

bankruptcy and foreclosure

I was recently granted title to a property located in california.The property is in foreclosure because i am going through financial troubles.My question is this,can bankruptcy stop the foreclosure process and give me time to sell the property or cure the debt evan though the loan is in the previous title holders name.


Asked on 9/08/03, 3:03 am

3 Answers from Attorneys
Robert F. Cohen Law Office of Robert F. Cohen

Re: bankruptcy and foreclosure

People have been known to transfer property to others in financial distress who then file bankruptcy to slow down or stop foreclosure. The U.S. Trustee does not look kindly upon such tactics. You should immediately retain an attorney to deal with the matter.

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Answered on 9/08/03, 3:32 am
Alvin Tenner Law Office of Alvin G. Tenner

Re: bankruptcy and foreclosure

Cohen gave the best advice.

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Answered on 9/08/03, 1:42 pm
Robert Mccoy Law Office Of Robert McCoy

Re: bankruptcy and foreclosure

Yes, it can. So long as you are acting in good faith. This means that the person who transferred the property to you did so for a valid reason, i.e. there is no "inside agreement" between you and the transferor, and you are not trying to defraud someone. Note that it is quite possible you will be required to sell the property in this situation.

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Answered on 9/08/03, 3:59 pm


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