Legal Question in Bankruptcy in Illinois
my wifes uncle wants to sell us a house he recently transferred title of to his brother [my wifes father]. because of filing bankruptcy, is this a red flag to stay away from this deal.
Asked on 8/24/09, 6:56 pm
2 Answers from Attorneys
Joseph Michelotti
Michelotti & Associates, Ltd.
No, he just has to account for the sale in the bankruptcy, if he can't the property is part of the bankrtupcy estate.
Answered on 8/31/09, 4:12 pm
Charles Dobra
Charles Wm. Dobra, Ltd.
You think? I'll bet dollars to donuts that the property has been incorrectly listed on the schedules.
Answered on 8/31/09, 4:19 pm
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