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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] get money back? Posted by rick on July 14, 2003 at 10:09 AM I just bought a property in pre-foreclosure, and the homeowner is considering in doing bankruptcy, since she has many other debts. I have the Deed, and have done all the paperwork as usual, (Equity Purchase Agt., Trust, assignment of beneficial interest, the Deed, Affidavit of Deed, ect.), and have given her $3,000 as payment for her equity (50/50 split of equity). However I have not brought the payments current(about $16,000), because I am affraid that if she files bankruptcy, the judge might consider it a fraudulent transfer, and request me to deed the property back to her, resulting in me loosing the $16,000 that I used to cure the default. Do I have a valid concern here? Or would the judge actualy be aware that I am entitled to get the money back since I am returning the deed? I am not worried about the $3,000 that I gave to the seller, becouse I know that that is lost already, since she already spent it, but I am worried about the $16K. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : I just bought a property in pre-foreclosure, and the homeowner is considering in doing bankruptcy, since she has many other debts. I have the Deed, and have done all the paperwork as usual, (Equity Purchase Agt., Trust, assignment of beneficial interest, the Deed, Affidavit of Deed, ect.), and have given her $3,000 as payment for her equity (50/50 split of equity). : However I have not brought the payments current(about $16,000), because I am affraid that if she files bankruptcy, the judge might consider it a fraudulent transfer, and request me to deed the property back to her, resulting in me loosing the $16,000 that I used to cure the default. Do I have a valid concern here? Or would the judge actualy be aware that I am entitled to get the money back since I am returning the deed? I am not worried about the $3,000 that I gave to the seller, becouse I know that that is lost already, since she already spent it, but I am worried about the $16K. 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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