Legal Question in Real Estate Law in Pennsylvania

Question on buying house for $1
In 1999 my mother inheart a house from my grandfather. I lived in it till now paying her under a land contract, It expired in sept.04.The value is about $65.000 Now she wants to sell me the house for $1.00 All taxes are paid up. And we checked the court house for any leins on it. I understand that all I have to do is draw up a deed at a notery, and go to the court house to record it. And I had to file bankrupcy [discharged]a year ago due to a injury to my back at work, witch I am on comp and social security. will the bankrupcy, be involved in this sell, due to the amount that will be free and clear in my name

Asked on 11/28/04, 6:31 pm

Michael Carroll Michael D. Carroll, L.L.C.

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Re: Question on buying house for $1

You should make sure there are no liens on the home - by getting title insurance.

Since the bankruptcy is concluded (I assume you received your discharge) your obtaining title to the home will not be affected by the bankruptcy.

Answered on 11/29/04, 12:30 pm

Mark Johns Mark Johns, Esquire

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Re: Question on buying house for $1

If you are discharged from bankruptcy you should be all clear. If you can you should get a warranty deed as opposed to a quitclaim.

I offer free consultations.

Answered on 11/28/04, 6:43 pm

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