Legal Question in Bankruptcy in California

Selling house while in Chapter 13

I am converting a chapter 7 bk to a chap. 13 bk. Can I sell my condo while in chap. 13? It appears that I will not be able to keep the house since I have just started on a new (better paying) job.I will not have a paycheck yet to show trustee. My date with the Trustee is 8/13/01 and I am unsure if I have any options. My condo is in an area where most units sell with 7 days.I have about $28,000 in equity and can't afford to lose it. The $28,000 figure is after paying off the full amount I owe (liens/back mortgage/H.O.A.). That is what I would end up with minus any commissions.

Thank you,

Clinton R. Greene


Asked on 8/01/01, 5:31 pm

1 Answer from Attorneys
Mark Markus Law Office of Mark J. Markus

Re: Selling house while in Chapter 13

Your facts are internally inconsistent. You have a better paying job, but you can't afford to keep your condo? Well, to answer your question, yes, you can sell your house in the Ch. 13. Of course you must obtain court approval first, and the funds must be used to pay your creditors, depending on the plan you have proposed. You should discuss this all with your attorney since Ch. 13 cases are very complicated and there are numerous issues, as well as different local rules for each court.

Read more
Answered on 8/01/01, 5:49 pm


Related Questions & Answers

More Bankruptcy Law questions and answers in California