Legal Question in Bankruptcy in New York

Unpaid Proceeds from Short Sale in NY

The remaining debt is unsecured since the property had already been sold in NY. If the debtor files for Chapter 7 or 13 protection against the unsecured debt, is his primary residence, now in TX, compromised? Debtor has not been a TX resident for 2 years therefore still considered a NY resident. The TX home equity is a guess at 5K.


Asked on 8/05/08, 5:16 pm

1 Answer from Attorneys
Nancy Delain Delain Law Office, PLLC

Re: Unpaid Proceeds from Short Sale in NY

You have a case that is complicated by interstate governing laws that may conflict. Your question thus would require some amount of research to respond to, and that is beyond the purview of this board. You need to HIRE A LAWYER in Texas (since that's where you now live) to help you through your proceeding.

THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE AND IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED, AS LEGAL ADVICE. THIS POSTING DOES NOT CREATE ANY ATTORNEY-CLIENT RELATIONSHIP BETWEEN US. FOR SPECIFIC ADVICE ABOUT YOUR PARTICULAR SITUATION, CONSULT YOUR ATTORNEY.

Read more
Answered on 8/05/08, 5:23 pm


Related Questions & Answers

More Bankruptcy Law questions and answers in New York