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Divorce/Selling House

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  • Divorce/Selling House

    As mentioned before my wife and I are getting divorced and she did not file ch13 with me. She wants to sell the house which is in both of our names. There is about $100K in equity in the home. Since she is not in the ch13 will the trustee get all the funds or will she be entitled to keep some of it since she was not involved in the BK?

  • #2
    This is something I want to know as well. How much does the trustee typically keep when there is equity in the home and you are in a 100% plan payment? Also my husband did not file. Just me. I am in 100% plan payment.

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    • #3
      Not sure what you were able to find out Knappy but my attorney talked with the trustee and because I am in a 100% plan pay he is allowing me to keep 100% of the proceeds from the sell of my rental property. I did have to ask permission to sell my home but that was just a quick filing with the court by my attorney. I just wanted to update this question in case anyone uses the search.

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      • #4
        Originally posted by lisa9519 View Post
        Not sure what you were able to find out Knappy but my attorney talked with the trustee and because I am in a 100% plan pay he is allowing me to keep 100% of the proceeds from the sell of my rental property. I did have to ask permission to sell my home but that was just a quick filing with the court by my attorney. I just wanted to update this question in case anyone uses the search.
        Thanks that helps a lot. How does anyone know what percentage payback they are at. The NDC states 100% percentage to unsecured but that from what I heard the NDC is not reliable.

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        • #5
          When you file a chapter 13 you file either 100% payback or less than 100% payback. Your attorney should be able to tell you. I decided to go with 100% payback because of the rental property. My attorney told me before I filed that if I did do 100% pay I should keep on to the rental until I was done paying the BK off. So in other words I wouldn't be able to sell without them taking the whole thing. As much as I do no like 100% payback I do like the freedom of being able to keep my tax refunds, proceeds from the sale of my rental and not having to ask the court for permission to buy things like cars etc.

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          • #6
            Originally posted by lisa9519 View Post
            When you file a chapter 13 you file either 100% payback or less than 100% payback. Your attorney should be able to tell you. I decided to go with 100% payback because of the rental property. My attorney told me before I filed that if I did do 100% pay I should keep on to the rental until I was done paying the BK off. So in other words I wouldn't be able to sell without them taking the whole thing. As much as I do no like 100% payback I do like the freedom of being able to keep my tax refunds, proceeds from the sale of my rental and not having to ask the court for permission to buy things like cars etc.
            I owe a total of $107,000 but my payback is $98,000. Not a 100% but close.

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            • #7
              knappyhead - is it possible you're in a 100% plan but not everyone filed a claim?? If you're not sure, ask your attorney. In my case, I was in a 100% plan and paid everyone except Chase who did not file a claim. It didn't change the fact my plan was 100%, it just reduced how much money had to be paid out.
              Filed Chapter 13 - 07/20/12
              Discharged 8/2/16

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