The short answer is Yes. However, there are steps we must take. You must speak with your Attorney regarding any potential proceeds from the sale of your property PRIOR to listing your property for sale. You may be required to turn over some, or ALL, proceeds from the sale to the Trustee or roll the proceeds over into a new purchase within 120 days. This is why it's important to speak with your attorney first to see if this would be the best course of action for you. Selling your house may allow you to pay off your case and discharge early or it may not benefit you at all, hence why its important to speak to your Attorney. Every case is different!
A motion to approve the sale of a property has to be completed through the Bankruptcy court when selling an asset. The documents needed are listed below and there are two options for the motion. We can file the motion and have it heard on standard time (5-6 weeks) or on OST (order shortening time) aka a rush which is usually completed in about 2-3 weeks this includes processing and noticing time. Each process does incur additional attorneys fees as a Motion to Approve Sale is not in our Basic Services.
Documents Needed:
1. Fully Executed Agreement between Seller (you) and Prospective Buyer
2. Declaration stating why you are selling the property
3. Estimate Settlement Statement from the Title Company
When you are ready to list your home or are thinking about doing so, please first schedule an appointment with an attorney to discuss proceeds and additional fees. Then, once you have listed your property and have a buyer, submit a request along with the necessary documents listed above for our office to prepare the necessary motion.