Oklahoma  |  Bankruptcy

Legal Question

Asked on: 7/20/13, 5:05 pm

I'm in the process of buying a rental property. I'm not in the position to obtain financing myself so I stuck a deal with the owner. I paid her $3000 down and she will keep the loan in her name while I make the payments and get a landlord insurance policy in my name. I have to obtain my own traditional financing within 60 months. My husband and I would like to file personal bankruptcy. Will this property be considered an asset? I do plan to rent it out but haven't yet. We haven't filed any paperwork regarding the purchase of the property. Can I buy it as an LLC?

Didn't find what you were looking for? Ask an Attorney!

Get answers from the top Attorneys
Ask Question

125 Answers given in the last few hours.

8663 Active attorneys ready to answer your question

Search Past Answers:
  Advanced Search