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When can I rent out homestead after a 7?

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    When can I rent out homestead after a 7?

    Does anyone know how long do I have to wait before I can rent out my BK7 homestead, and go rent something smaller for myself?
    02/05/09 Filed BK7
    03/11/09 341 Hearing
    05/20/09 Discharged!

    #2
    Have you been discharged yet?

    Did you keep the home in your Ch 7 or surrender? If you kept the home, anytime after discharge is ok, because it is your home (as long as you make the payments). If you surrendered the home in Ch 7 then that is a different story
    Filed CH 7 9/30/2008
    Discharged Jan 5, 2009! Closed Jan 18, 2009

    I am not an attorney. None of my advice is legal advice in any way..

    Comment


      #3
      Originally posted by StartingOver08 View Post
      Have you been discharged yet?

      Did you keep the home in your Ch 7 or surrender? If you kept the home, anytime after discharge is ok, because it is your home (as long as you make the payments). If you surrendered the home in Ch 7 then that is a different story
      Dumping a current rental and keeping the homestead town home.

      Still OK?
      02/05/09 Filed BK7
      03/11/09 341 Hearing
      05/20/09 Discharged!

      Comment


        #4
        I see you filed in Feb and had your 341 in March (last week)......
        Unfortunately you can't do ANYTHING as long as you are under the control of the Trustee and the Court. You can't buy, sell, rent or trade off anything until you get your discharge from the Court. Right now the Trustee is in charge of your financial life as long as you are in bankruptcy.
        After discharge you can do what you want to with your property if you kept it in the bankruptcy.
        Bankruptcy usually last 3-4 months depending on your situation.
        Minny

        "It's amazing the paths that our feet sometimes follow in life".

        My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different.

        Comment


          #5
          Sure - once you are discharged you can do as you please with your property. From your dates, it looks like you just entered your 60 day period since you just had your 341 on 3/11. It would be safer to wait until after discharge if you are going to advertise to rent your place. If you have a prospective tenant already lined up, then you should be ok, IMO. (All of this is based on the fact that you have no issues in your BK)
          Filed CH 7 9/30/2008
          Discharged Jan 5, 2009! Closed Jan 18, 2009

          I am not an attorney. None of my advice is legal advice in any way..

          Comment


            #6
            Thank folks... I am definitely going to wait because I'm not so sure I will get a 7. Just wanted to get some direction.
            02/05/09 Filed BK7
            03/11/09 341 Hearing
            05/20/09 Discharged!

            Comment

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