Legal Question in Real Estate Law in California
bankruptcy
If I am short saleing my home and I file bankruptcy 2 weeks before we close escrow, can the filing be reversed or rescheduled until after we close escrow?
4 Answers from Attorneys
Re: bankruptcy
I'm NOT a bankruptcy specialist, but I am aware that failure to file all the required schedules does in some types of BK filing result in an automatic dismissal of the case within a short time (15 days?) of the filing date. The dismissed case can then often (not always) be re-filed. This serial filing of bankruptcies is considered unethical and operating in bad faith, but some do get away with it. Don't try being a serial filer without competent advice.
Re: bankruptcy
I would ask the attorney who is handling your bankruptcy.
Re: bankruptcy
The day you file bankruptcy your home becomes an asset of the bankruptcy estate and you do not have the right to sell it without court approval.
Re: bankruptcy
No - I would strongly suggest that filing bankruptcy is not something to take lightly. If you intend to go forward with the bankruptcy, then file. If you do not, then do not file. You can severely limit your future rights if you are filing solely to delay some creditor or for a reason other than a legitimate bankruptcy.
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