Legal Question in Bankruptcy in Virginia

Chapter 13 Bankruptcy and Land

My dad gave me 1 acre of land prior to my filing a chapter 13 bankruptcy. Am I able to sell my land if a prospective buyer comes along?


Asked on 3/19/08, 9:19 am

2 Answers from Attorneys
James Sease James S. Sease, PC

Re: Chapter 13 Bankruptcy and Land

You must have permission from the trustee to enter into a contract for the sale of the property. Have your attorney forward a copy of the contract to the Trustee. You would be best served by doing nothing until your chapter 13 has been completed. If you realize money from the sale, it will need to be paid the the trustee who will pay it to your creditors. Summary: dont sell it now.

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Answered on 3/19/08, 9:35 am
Daniel Press Chung & Press, P.C.

Re: Chapter 13 Bankruptcy and Land

You may be able to sell it, but the net proceeds may have to be turned over to the trustee, depending on the circumstances of your case. You MUST consult with your bankruptcy lawyer about this and probably need to seek leave of court.

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Answered on 3/19/08, 9:58 am


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