Filing Bankrupcy

Posted on: Mon, 03/12/2012 - 23:53

Jay C

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Filing Bankrupcy

Looking for some info?

I have a seller that is going to file for bankrupcy soon. (so he said)

He has a property that is worth ARV from a realtor 210
He owes 190 I did not see the house yet. But my realtor said it is in good shape.

BUT this is a very low spread so Lease Option or subject to. He has a low morgage payment and the house is in a Great area.

So my Question is if I get this house locked up on either options what would happen if he actually filed for Bankrupcy?

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Posted on: Tue, 03/13/2012 - 01:15 #1

Mark K

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Interesting

I'm curious to see what the replies say as I've never seen a situation like this.
My thought is to isolate the property from the bankruptcy somehow. But everything I can think of involves money (putting property into a trust or LLC).

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