Legal Question in Bankruptcy in Minnesota

"Sale of Assets"

We filed Chapter 7 Bankrupty 5 years ago in Federal court - We kept our home and the bankruptcy was discharged 5 years ago. We now want to sell our home. Do we need to do anything special because of the bankruptcy - we have read our papers and can find nothing - I though we had to do something special with the title. Where can I find out or what do we have to do?


Asked on 7/30/99, 1:33 pm

1 Answer from Attorneys
Dorothy Bunce

Home & Homestead

Although I do not practice in your state, most homestead laws work the same way - you keep your home as long as you make the payments and provided your equity doesn't exceed a certain dollar amount.

Since you received a "discharge", your home must have qualified. It is yours to sell or keep, as long as you make the mortgage payments and pay the taxes. The title company or attorney handling the escrow will prepare any necessary papers for you to sign at the close of the sale. In addition to a deed, maybe you will sign a release of your homestead interest. But probably nothing extra will be required.

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Answered on 7/31/99, 12:10 pm


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