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?


Asked on 9/12/08, 7:24 pm

4 Answers from Attorneys

Bryan Whipple Bryan R. R. Whipple, Attorney at Law

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.

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Answered on 9/14/08, 6:00 pm
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

Re: bankruptcy

I would ask the attorney who is handling your bankruptcy.

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Answered on 9/12/08, 7:32 pm
Judith Deming Deming & Associates

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.

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Answered on 9/12/08, 11:05 pm
David Gibbs The Gibbs Law Firm, APC

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.

*Due to the limitations of the LawGuru Forums, The Gibbs Law Firm, APC's (the "Firm") participation in responding to questions posted herein does not constitute legal advice, nor legal representation of the person or entity posting a question. No Attorney/Client relationship is or shall be construed to be created hereby. The information provided is general and requires that the poster obtain specific legal advice from an attorney. The poster shall not rely upon the information provided herein as legal advice nor as the basis for making any decisions of legal consequence.

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Answered on 9/15/08, 1:09 pm


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