Owner Financing to Buyer in Chapter 13 -Question - Posted by Jeff (Dallas, TX)

Posted by Jeff (Dallas, TX) on January 11, 1999 at 12:54:53:

I have a prospective buyer who is currently making payments under a Chapter 13 bankruptcy agreement.

The Buyer is interested in buying a $100K house from me.
He would pay $5K down and make payments on the remaining $95K balance for 30 years under a Contract for Deed.

Would this transaction need to be approved by the buyer?s bankruptcy trustee? Any other comments about the possible ramifications of this sale would be appreciated.