Legal Question in Bankruptcy in Florida

bankruptcy

My husband and I would like to buy

my parents home. They are planning

to file bankruptcy. Are we able to buy

their home for what the owe without

it messing up their bankruptcy filing?

They live in Florida and owe 135 on

the house. It has about 60,000 in

equity. We would be putting that

money right back into the house,

since it is in disrepair. They are

unable to pay their mortgage and we

feel this would be a solution. We

would then buy an investment

property and have them rent it from

us.

Thanks!


Asked on 8/07/07, 6:58 pm

1 Answer from Attorneys
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: bankruptcy

I am not quite clear about your plan. The guiding priciple in bankruptcy is full disclosure. If you were to buy the property as an 'arms length' transaction it may stand-up. Whatever you do, consult with counsel first.

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Answered on 8/07/07, 9:55 pm


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