Legal Question in Bankruptcy in New Jersey

is it safe

I want to buy a share of a co op from a man i just

found out was in chapter 13 bankruptcy.

He has shown me a paper saying his bankruptcy is discharged

as of oct. 1.

Is it safe for me to buy his place? would i be subject

to any liens on him.

the paper isnt too clear to me.


Asked on 10/14/03, 4:09 pm

1 Answer from Attorneys
Debra Palazzo Law Offices of Debra Palazzo, LLC

Re: is it safe

You MUST do a co-op search (similar to a title search) before you purchase. The cost is aprox $400-500. You also can purchase co-op (like title) insurance. Cost depends on purchase price of co-op. If you need assistance please feel free to contact me.

Debra

Read more
Answered on 10/16/03, 5:43 am


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