On Schedule D (Creditors Holding Secured Claims):
If a homestead is sold at a foreclosure sale recently and there is a deficiency due, it can be listed in a chapter 7 bankruptcy since it was a prepetition transfer and the trustee can attempt to recover it. HOWEVER!
Would it be listed in Schedule D or only in the Statement of Financial Affairs? I am guessing Schd D beucase it is a liability, but others disagree. Please help. Thanks.
If a homestead is sold at a foreclosure sale recently and there is a deficiency due, it can be listed in a chapter 7 bankruptcy since it was a prepetition transfer and the trustee can attempt to recover it. HOWEVER!
Would it be listed in Schedule D or only in the Statement of Financial Affairs? I am guessing Schd D beucase it is a liability, but others disagree. Please help. Thanks.
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