Caution With Potential Bankruptcy?
Do I have to worry about anything if the seller is planning to file bankruptcy next month? She's in foreclosure right now and I'd like to take property subject to. She disclosed she is planning to file bankruptcy at the end of Feb.
That will probably throw a monkey wrench into your deal. The Bankruptcy Trustee will see the liability... not the asset, and label it a fraudulent conveyance.
I would think it would be best to keep the woman out of bankruptcy.