Legal Question in Real Estate Law in Michigan

I as a seller am selling on a land contract. How can I protect myself if the buyer declares bankruptcy?

Asked on 1/25/17, 6:31 am

1 Answer from Attorneys

Timothy Klisz Klisz Law Office, PLLC

You cannot. You will reclaim the property and keep the money you have collected to date. The buyer loses their interest in it unless they reorganize the debt or reaffirm it.

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Answered on 1/25/17, 10:39 am

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