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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] This way it's OK. Posted by Ward-CA- on May 26, 2003 at 12:50 AM In Reply to: deed + BK,day of sale, OK? posted by Greg on May 24, 2003 at 5:31 PM : Ward, : Do the following steps seem reasonable legally and practically? : day of sale: : 8:00am: Seller deeds me property right outside the BK court steps. I have a notary meet us there. : 9:00am: I accompany seller inside the BK court where she files chapter 13. : Greg =•=•=•=•=•=•=•=•=•=•=•= Greg, According to the bankruptcy court’s rules, any transfer of a petitioner’s property to someone else, just before filing a bankruptcy, is considered a fraudulent conveyance. There’s no proscription in the bankruptcy rules that prohibits accompanying anyone inside the bankruptcy courthouse while they file their bankruptcy petition. So, working within the rules, you’d have the Seller sign their EPA at 8:00 AM and file their emergency petition in Chapter 13 at 9:00 AM. Thereafter, once you knew the lender postponed their Trustee’s Sale date then you’d have the petitioner petition the Court with a request for the voluntary dismissal of their bankruptcy. With the voluntary dismissal in hand, signed by the judge, you’d then record the deed to the Seller’s property. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : Do the following steps seem reasonable legally and practically? : : day of sale: : : 8:00am: Seller deeds me property right outside the BK court steps. I have a notary meet us there. : : 9:00am: I accompany seller inside the BK court where she files chapter 13. : : Greg : =•=•=•=•=•=•=•=•=•=•=•= : Greg, : According to the bankruptcy court’s rules, any transfer of a petitioner’s property to someone else, just before filing a bankruptcy, is considered a fraudulent conveyance. : There’s no proscription in the bankruptcy rules that prohibits accompanying anyone inside the bankruptcy courthouse while they file their bankruptcy petition. : So, working within the rules, you’d have the Seller sign their EPA at 8:00 AM and file their emergency petition in Chapter 13 at 9:00 AM. : Thereafter, once you knew the lender postponed their Trustee’s Sale date then you’d have the petitioner petition the Court with a request for the voluntary dismissal of their bankruptcy. With the voluntary dismissal in hand, signed by the judge, you’d then record the deed to the Seller’s property. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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