Legal Question in Bankruptcy in North Carolina

First of all, it is not your land anymore. You sold it. All that you have is a deed of trust, which is a promise by the debtor to pay. If they file bankruptcy (I am assuming that the land is in NC), then it will depend on whether they file a chapter 7 or a chapter 13 bankruptcy. If they want to keep the house, they have to keep paying for it, which is good. The difference between a chapter 13 and a chapter 7 is that the chapter 13 lets them get caught up if they are behind in payments. The 7 requires them to pay up shortly after they file bankruptcy.

If they file bankruptcy, it acts like a protective shield. You cannot demand payment from them. You would need a bankruptcy lawyer to go to court and ask permission to lift te automatic stay (I am assuming that the debtors never filed before - if they have, it gets more complicated). Once it is lifted, you would then have to go to court to foreclose on the home, although you would be precluded from seeking any deficiency judgment from them. So no, you will not lose the home.