Legal Question in Bankruptcy in Massachusetts
house sale??
We filed Chapter 13 ,16 months ago,we are thinking of selling our house and relocating,our question is,if we sell the house and make a profit,do we get to keep any of it?or does it all go to the trustee?
1 Answer from Attorneys
Re: house sale??
You would probably be able to retain the proceeds of the sale above the mortgage. How much you would keep depends on the facts of your situation, such as whether there is a homestead, the amount of the mortgage and the amount of the purchase price. You can certainly sell your house while in chapter 13, but there are special rules involved, such as if you use a broker, the broker must be approved by the judge before the sale or the broker doesn't get paid. Talk to your attorney or call me for assistance. David Baker, 617-367-4260. Best wishes.