Legal Question in Bankruptcy in Texas

I am owner financing my home and the owner is in the process of filing bankruptcy chapter 7 because chapter 11 was denied. Can the house be taken from me, or what can I do?


Asked on 2/23/11, 11:20 am

1 Answer from Attorneys
Rustin Polk 214bankruptcy.com

Probably not but like most things, the answer is "maybe". It depends on what type of contract you have, how much of it you've paid off already, whether you actually live in it, etc.

It's pretty likely that section 365(i) or 365(j) of the bankruptcy code is going to be what determines it though-- it's just a matter of how YOUR specific facts fit into those statutes.

I know this doesn't give you a cut and dried answer but I hope it helps at least getting you started in the right direction.

Rustin Polk

Dallas Bankruptcy Lawyer

www.214bankruptcy.com

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Answered on 2/23/11, 11:44 am


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