Legal Question in Bankruptcy in Missouri

we went to bankrupcy court on may 21. we are buying a mobile home owner finance. the owner does not have a title on the mobile home. and the court is sending a appraiser, we owe $12.000.00 on the mobile home if it is appraises for $12.000.00 or less will we be able to keep the mobile home are is the court going to take it.


Asked on 5/31/10, 3:04 pm

1 Answer from Attorneys
Anthony Smith LawSmith

There are varaibles that change what I am about to say, so do nto act or opt not to act without discussing yrou situation with an attorney that has access to more of the facts then you are able to list here. But, under the facts you have described, if the mobiel home is securely planted (attached to a lot) then it coudl appraise for as much at $20,000 and you woudl keep it. In Missouri the person filing for bankruptcy gets to keep some of the equity in their home.

Good luck

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Answered on 6/01/10, 11:02 am


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