Bankruptcy Didn't Change Ownership To Title Of House?
Ok, as a followup to Bankruptcy has been Discharged - I believe that you are telling me that even though the homeowner filed bankruptcy on his house, he still owns title to it until the auction (on the court house steps), so if I want to buy it, I need to get a purchase contract with him? Does the bankruptcy courts need to release the house from the bankruptcy?
Yes to the first question and on the second it depends on what chapter he filed and how long its been discharged. If he filed chapter 7 and its been less than 30 days, then you will need to get court and/or creditor approval.
I don't know what Chapter he filed but it has been longer than 30 days (it was in April). Do I need to get it released from the bankruptcy court still? Or just treat it like I would an other real estate investment property.
Thanks for all of your help.
I would get a copy of his discharge while you sign the contract
A lot of work can go down the tubes if you dont check on bankruptcies.