Legal Question in Bankruptcy in New York
Purchase of Real Property before discharge of bankruptcy
A person files Chapter 7 and included is the mortgage on a house. If this person purchases a new house before his bankruptcy is discharged, can the lender of the mortgage in bankruptcy place a lien on this newly purchased house?
1 Answer from Attorneys
Re: Purchase of Real Property before discharge of bankruptcy
I've never heard of that one before, either (a) a Chapter 7 debtor buying a new house and getting a mortgage on a property while in bankruptcy, or (b) mortgagee in bankruptcy going after a completely separate property purchased after the petition was filed.
I suspect the lender's attorney is thinking it's pretty strange for a bankrupt to be buying a house, and they may feel the debtor has concealed assets from the bankruptcy court. I assume the lender wants to put a lien on the new property because the former property was insufficient to pay their mortgage debt.
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