Re: Subject to deal now seller files Bankruptcy? - Posted by js-Indianapolis
Posted by js-Indianapolis on October 21, 2003 at 18:22:46:
INCORRECT again. I know an investor who had a seller file bk after he took a house sub to. Now, this was a sub to where the seller paid him to get out of the house. The bk court had requested that he give the $7K back to the seller. At the time I last talked to him about it, he didn’t know how it would all play out in court.
I’ll see if I can find out what the final outcome was. I also do not recall if the bk court asked to reverse the sale. They did, however throw a monkey wrench into a perfectly executed deal.
Just throwing a deed up, and saying, “mine mine mine” ain’t gonna do it. This is federal court remember. They can trump just about anything. THAT would be “end of story”.