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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] $70K letter Posted by Ward-CA- on August 19, 2003 at 9:32 PM In Reply to: Re: Letter to Oklahoma... posted by david on August 19, 2003 at 12:35 AM : Hi Ward, : 1) What happens if they file chapter 7 bankruptcy later on, do you still get to keep the house. : 2) I understand you cannot sell it again as long as the outstanding liens are satisfied? : Thanks, : David. =-=-=-=-=-=-=-=-=-=-=-=-=-=-= David, #1. There’s a definite time element between divesting yourself of an asset and the filing a subsequent bankruptcy. The wider the gap between the two the greater the chance the divesture is going to stick. If the gap is six months or more I’d feel safe it’s going to stand. #2. You probably meant that “..the outstanding liens aren’t satisfied?”. For the most part I agree, but there could be some far fetched exceptions. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hi Ward, : : 1) What happens if they file chapter 7 bankruptcy later on, do you still get to keep the house. : : 2) I understand you cannot sell it again as long as the outstanding liens are satisfied? : : Thanks, : : David. : =-=-=-=-=-=-=-=-=-=-=-=-=-=-= : David, : #1. There’s a definite time element between divesting yourself of an asset and the filing a subsequent bankruptcy. The wider the gap between the two the greater the chance the divesture is going to stick. If the gap is six months or more I’d feel safe it’s going to stand. : #2. You probably meant that “..the outstanding liens aren’t satisfied?”. For the most part I agree, but there could be some far fetched exceptions. 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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