Legal Question in Bankruptcy in North Carolina

I infer that you have a lien on the property that exceeds the value and you want to discontinue the payments and tax burden. Of course, you could make a gift of the property, but a properly perfected lien by the bank would follow it. Without payments, the bank would have to foreclose and sell the property for liquidation value. You are obligated to pay the difference. So much you know. The taxes remain your obligation as well as a lien on the property, but the new owner, whether the bank or third party will pay the taxes to protect his or her interest. If you filed a bankruptcy and listed both the property and the bank, then there can be no claim by the bank against you no matter how much it sells for. If you are in a Chapter 7 bankruptcy, you cannot transfer the property without the permission of the trustee. If you are in a Chapter 13 bankruptcy, you need permission of the court. If your relative is willing to pay fair market value, he/she could buy it at the foreclosure sale. You should discuss this with your bankruptcy lawyer, but I suspect, if there is no deficiency liability because of the bankruptcy and no equity and no interest in keeping the property; your lawyer would tell you to do nothing and allow the bank to foreclose.