Legal Question in Bankruptcy in Ohio
Personal Residence
I currently own a 3 unit Apartment, free and clear, no liens, it is unsecured. I am having to move into one of the units, due to filing bankruptcy. Will I be able to retain this property as this will be my primary residence?
Asked on 6/09/03, 3:45 pm
2 Answers from Attorneys
Steven Schiller
Steven L. Schiller, Attorney at Law
Re: Personal Residence
Probably the property is worth a lot more than $5,000. However, yon may still be able to keep the property in a chapter 13. Making a monthly payment through the court can prevent you from losing the non-exempt portion of the property. If you would like to discuss how this can be done, feel free to contact me.
Answered on 6/09/03, 10:35 pm
D. Domanovic
D. Domanovic, Atty.
Re: Personal Residence
A person is entitled to an exemption of $5000 in property used as a residence.
Answered on 6/09/03, 3:59 pm
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