I own a house that is worth no more than $10,000. If I sell this house and use the proceeds to pay last year's federal income taxes and for my child's orthodontic treatment, and then file Chapter 7 bankruptcy within 6 - 12 months, will the real estate transaction be retroactively set aside by a bankruptcy trustee as unfair to other creditors?
1 Answer from Attorneys
I own a house It might be. But check and see if the IRS has a secured lien on the house already.
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