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Selling our house during chapter 7

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    Selling our house during chapter 7

    Ok, we live in florida and have for 20 years +. We are wanting to sell our house now, but had our 341 Dec. 18 so no discharge yet. What our idea is, list the house for sale by owner and IF we get a contract set the closing out towards the end of March to give us time for the discharge so we dont loose our equity and use it for a down payment on another house. Is this possible?

    #2
    [Ooops, I got the discharge date wrong...]

    I would wait until the discharge just for a clean break. Your discharge should be around 2/16/2019? I'd wait to make sure everything is properly abandoned by the Estate. Unless and until the property is abandoned by the Trustee, officially, you should not make any plans to sell or list the property.

    If you're doing an FSBO, then maybe you can prepare the listing, prepare the home for sale (add that curb appeal), stage it (if necessary), take all the pictures, and get ready to allow the listing to start after 2/17/2019?
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog


    I am not an attorney. Any advice provided is not legal advice.

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      #3
      We were planning on doing that, but I read that in florida you homestead is completely exempt so I was curious.

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        #4
        The property remains part of the bankruptcy estate until the Trustee specifically abandons the property, the Trustee sells the property, the case is dismissed, or the case is discharged, whichever comes first. Right now, you don't have a legal right to sell the property because it's still property of the bankruptcy estate, despite your exemption.

        Exemption simply means that the Trustee can't sell (liquidate) the property to pay creditors, but the property is property of the bankruptcy estate until those events, which I mentioned above, occur.

        You will need to wait until your discharge.
        Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
        Status: (Auto) Discharged and Closed! 5/10
        Visit My BKForum Blog: justbroke's Blog


        I am not an attorney. Any advice provided is not legal advice.

        Comment

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