Legal Question in Bankruptcy in Texas

Bankrupcy after forclosure

I needed to know if bankrupcy would have any effect on the fact that I foreclosed on a piece of property with small house that I was selling contract for deed. I gave forclosure notice on 8-1-01 and tomorrow 9-1-01 is final. If they file bankruptcy next week will it have anything to do with this property since forclosure is final. Thanks in advance for your reply.


Asked on 8/31/01, 9:29 pm

1 Answer from Attorneys
David Sergi Sergi and Associates PLLC

Re: Bankrupcy after forclosure

If they file they can treat the contract as an executory contract and try to argue that it is still valid. We deal with this situation on a regualr basis. You need to be sure to follow the Property code in terminating the contract for deed. If you are in the Austin/SAn Antonio area we can help.

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Answered on 10/01/01, 9:28 am


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