Legal Question in Bankruptcy in Maryland

Effect of filing bankruptcy on ability to sell house

In Maryland, the house is not exempt property...

I still have equity in my house, if I file bankruptcy - can I still sell my house?

What impact, if any, does the seller having filed bankruptcy have on the buyer's being able to buy the property?

Does this delay the sales process?

I am in

Please help. Thanks!


Asked on 4/23/09, 3:59 pm

2 Answers from Attorneys
Daniel Press Chung & Press, P.C.

Re: Effect of filing bankruptcy on ability to sell house

If you file bankruptcy, in Chapter 13 you can sell the house with court approval. In Chapter 7, if there is equity, the trustee will sell it for the benefit of your creditors. If you are considering bankruptcy, you should see a bankruptcy lawyer before doing anything with regard to selling your property. We practice bankruptcy law throughout MD and would be glad to assist you.

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Answered on 4/23/09, 4:17 pm
Daniel Press Chung & Press, P.C.

Re: Effect of filing bankruptcy on ability to sell house

If you file bankruptcy, in Chapter 13 you can sell the house with court approval. In Chapter 7, if there is equity, the trustee will sell it for the benefit of your creditors. If you are considering bankruptcy, you should see a bankruptcy lawyer before doing anything with regard to selling your property. We practice bankruptcy law throughout MD and would be glad to assist you.

Read more
Answered on 4/23/09, 4:17 pm


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