Legal Question in Bankruptcy in Wisconsin

If a bankruptcy trustee abandons real estate, then the title reverts to its pre-bankruptcy status. If you owned it before bankruptcy, subject to mortgages or liens, then you will then also own it in exactly the same way after abandonment, also subject to the same mortgages and liens. Liens and mortgages are generally not affected by bankruptcy and pass through it intact, unless special adversary proceedings in the bankruptcy, payments or foreclosures change the status of the liens or ownership. All of this is easily determined from court records. Trustees can abandon either by closing the estate due to no worthwhile assets being found, or the trustee can formally abandon real estate earlier by notice to creditors and/or litigation. The debtor (owner) can also file motions to compel abandonment, as can creditors or other concerned parties. You should therefore contact your attorney about doing this, or retain an attorney if you do not have one, in order to acquire title to such abandoned land (unless you already own it due to being the debtor). Odds are good that the case which you mention is already closed if more than a year has passed without a sale, but any attorney could easily verify this through case records. If the case is closed (and the land therefore deemed to be abandoned by the trustee), you can offer to purchase the land from the original debtor or other party who currently owns it. Due to the dismal state of the real estate market currently, many trustees are abandoning real estate these days due to an inability to sell it, despite it having theoretical value according to an appraiser. My comments in this online forum are offered for public educational purposes only and are not legal advice, nor do they create any attorney/client relationship between us. However, I may be able to formally represent you if you contact my Racine office and make arrangements to retain me. I also represent clients throughout WI.