How long can a tenent stay if the landlord files chapter 7 and can the house be purchased?

Question

my landlord is filing chapter 7 and I was told that I had to be out in 30 days. Is this true? Also, can the house be bought for less than is actually owed?

Answer 1

can a landlord evict you with 30 days notice? It depends on the state, but for the most case, yes...

during chapter 7, an official hired by the bankruptcy court to represent all of the creditors (called the trustee) reviews all of the assets and debts of your landlord and determines what things should be sold and what things the debtor has a right to keep.

If a sale is ordered, the trustee will hire an auctioneer to sell it. The price it goes for is whatever it gets at auction. Most auctioneers require full payment by certified funds within 24 hours for real estate.

Find out from your landlord or the US Bankruptcy clerk who the trustee is and the case number. The Trustee may let you stay in the house and pay rent to him/her since that will mean more money to pay creditors. Write a letter to the trustee with all of the pertinant information (case number, landlord's name, address of the house, how much you pay in rent, etc...) and ask them if you can stay in the house when your 30 days is up. The worst thing they can say is no.

Answer 2

regularly it somewhat is 2 years from date of discharge. to acquire an excellent value without paying a intense proportion value, make specific which you have maintained outstanding credit simply by fact the financial disaster. this suggests no late money over 30 days. it is likewise on your income to have stored money. by using doing so it exhibits the lender which you're dealing with your money greater effective and could positioned an investment into the valuables. some B/C Lending agency's will finance earlier that element physique, however the pastime value and the down charge would be very intense.

Answer 3

As far as I know, you cannot be evicted until your lease is due for a renewal.