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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Improperly Reversed Sale? Posted by Rick Harmon on November 07, 2003 at 10:57 PM In Reply to: Improperly Reversed Sale? posted by SeanW on November 07, 2003 at 6:47 PM : Ward, what do you think of this situation? : Deed in name of H & W. : 1st and 2nd DOT in name of H & W. : H quitclaims the property to W. : 1st begins foreclosure proceedings against H & W. : W files bankruptcy. : 1st gets relief of stay. : H files bankruptcy. : Sale takes place. : Trustee reverses the sale. : #1 This happened to me, but I don't understand why the sale could be reversed, if H had no interest in the property anymore. : #2 If the husband's BK does produce a valid stay, why would the trustee conduct a sale, when the BK was ALREADY filed? Why not just postpone? I had assumed because the sale did take place, this BK was not going to be a problem. ****************************************** Sean, I don't know, either but I'll take a stab at it. Maybe someone else out there will have a more definative reason, too. Possible explanation: Lenders and foreclosure trustees, operating in litigious environments (especially here in CA) may feel that Husband'd BK applied to his spousal interest. I'm, presuming that he named the secured creditor in his filing in order to stop the BK and that his BK was not merely a random coincidental filing. It appeared to the lender that he intended to stop the sale. A) Absent any other evidence that he did not, in fact, have any form or true interest in the property, they reversed the sale. Lender may have seen an overly influential BK judge or BK Trustee could cause trouble and force a sale reversal or be subjected to defamation of title to the property. B) Or maybe an overly-cautious trustee sale officer agree to reverse the sale and not being clear about the fact of the prior QC from H to W. Also, you weren't clear as to whether this reversal was voluntary on the part of the F/C trustee or was a result of court action. I suspect the former. Am I right? Or, I could be completely wrong. Anybody got a better answer? Rick Follow Ups: hoodia Harry Juna 8:55 PM, 02/03/05 (0) Re: Improperly Reversed Sale? SeanW 4:04 AM, 11/08/03 (0) Re: Improperly Reversed Sale? SeanW 3:55 AM, 11/08/03 (1) Re: Improperly Reversed Sale? Rick Harmon 4:35 AM, 11/08/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, what do you think of this situation? : : Deed in name of H & W. : : 1st and 2nd DOT in name of H & W. : : H quitclaims the property to W. : : 1st begins foreclosure proceedings against H & W. : : W files bankruptcy. : : 1st gets relief of stay. : : H files bankruptcy. : : Sale takes place. : : Trustee reverses the sale. : : #1 This happened to me, but I don't understand why the sale could be reversed, if H had no interest in the property anymore. : : #2 If the husband's BK does produce a valid stay, why would the trustee conduct a sale, when the BK was ALREADY filed? Why not just postpone? I had assumed because the sale did take place, this BK was not going to be a problem. : ****************************************** : Sean, I don't know, either but I'll take a stab at it. Maybe someone else out there will have a more definative reason, too. : Possible explanation: Lenders and foreclosure trustees, operating in litigious environments (especially here in CA) may feel that Husband'd BK applied to his spousal interest. I'm, presuming that he named the secured creditor in his filing in order to stop the BK and that his BK was not merely a random coincidental filing. It appeared to the lender that he intended to stop the sale. : A) Absent any other evidence that he did not, in fact, have any form or true interest in the property, they reversed the sale. Lender may have seen an overly influential BK judge or BK Trustee could cause trouble and force a sale reversal or be subjected to defamation of title to the property. : B) Or maybe an overly-cautious trustee sale officer agree to reverse the sale and not being clear about the fact of the prior QC from H to W. : Also, you weren't clear as to whether this reversal was voluntary on the part of the F/C trustee or was a result of court action. I suspect the former. Am I right? Or, I could be completely wrong. Anybody got a better answer? : Rick 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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