california bankruptcy courts
Bankruptcy and real estate?
I own a house that is rented, but now I'm close to defaulting on the loan. I also own assets in another state with another party. If I go into foreclosure for the house in California. What is bankruptcy courts make me do with the joint ownership do I have? As my partner doesn't want to sell or a sale be forced?
If you file for bankruptcy, is everything you owned the estate in bankruptcy. Sie können befreit das Most of what is like to keep you in the position are. In a chapter 7, include any non-exempt property to the Chapter 7 trustee. The trustee has the Task to sell non-exempt property and a pro-rata distribution to unsecured your creditors. If there's equity in the house is their common, the trustee the co-owner and offering contact to the property interests of the co-owner sale. If the co-owner refuses, the trustee brought an action in bankruptcy court the sale of the property and half the proceeds to the co-owners – see section 363 of the Bankruptcy Code. If there is no equity in the house, the trustee will do not care and it does not matter. If you file Chapter 13, you will also do not worry about it, because Chapter 13 trustees do not liquidate the property, but manage Payment of claims. You will have the property include mortgage payment as part of your Chapter 13 plan payment. In short, it gives a number of factors, and you should with a Lawyer consulted.
Do I have to see the Bankruptcy Court Judge? | San Diego Bankruptcy Attorney
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