should i have a property quit claimed to me if the owner fil

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Icon Mini Profile ewwkids




Joined: 03 Apr 2008

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PostPosted: Thu Apr 03, 2008 8:20 am    Post subject: should i have a property quit claimed to me if the owner fil

my landlord filed bk about two weeks ago. she wants to sell me her property. she wants to "quit claim" it to me she owes 160k on the property and wants to sell it to me for 70-80k is this possible??????
Icon Mini Profile jameshogg
jameshogg



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PostPosted: Thu Apr 03, 2008 11:16 pm    Post subject: RE: sell property while in bankruptcy

Hi Ewwkids,

Welcome to forums.

Has your landlord filed Chapter 7 bankruptcy? and is that the reason she hasn't included the home? You need to be sure of what she is actually trying to do - whether he'll simply do a quitclaim or a sale. Does she want to sell in order to protect her house from being liquidated as is done with non-exempt properties of debtors in some states?

Thanks
Icon Mini Profile Caron
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PostPosted: Fri Apr 04, 2008 4:29 am    Post subject: RE: quitcaim/sell after bankruptcy

Hi,

Quitclaiming or selling property which should be otherwise included in bk can be considered a fraudulent act. So, check out the bankruptcy laws in your state before you accept such a property. By the way, what type of bk has your landlord filed and what debts are included there? just asking so that I can give you a better suggestion.

Good luck

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Icon Mini Profile ewwkids




Joined: 03 Apr 2008

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PostPosted: Fri Apr 04, 2008 6:48 am    Post subject: quit claim

i apologize for giving the wrong info. by the way she filed a chapter 7. she actually says that she wants me to do a "short sale" on the property. she owes the bank 160k and she says that i can negotiate a "short sale" to them for about 60-70k. she says that they will probably take the offer. now my question is does she negotiate the short sale or do i??and also do i have to have a preapproval from a mortgage co. or bank in order to be able to "negotiate"??.
Icon Mini Profile Niicss
Niicss



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PostPosted: Sat Apr 05, 2008 1:50 am    Post subject:

Welcome back ericka,

This has been answered at http://www.mortgagefit.com/propertytransfer/about11176.html#48537

Let me know if you have any more queries.

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Mary

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PostPosted: Sun Aug 17, 2008 4:59 pm    Post subject: Can I do a quit claim if I have filed chp 13 bankruptcy

Can I do a quit claim if I have file bankruptcy
Icon Mini Profile Niicss
Niicss



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PostPosted: Mon Aug 18, 2008 6:59 am    Post subject:

Welcome Mary.

It all depends what type of bankruptcy you have filed. If you have filed chapter7 then you should not quitclaim it. By the way you should consult it with a bankruptcy attorney.

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