Bankruptcy but still house the house?

[Bernard Chouinard]

Often, I come across houses where the owner filed bankruptcy if it is recent or even 6+ years prior.  I understand the bankruptcy addresses the mortgage but according to the state records they are still the owner of the property. Do they still have the ability to sell the house even if the house was included in the bankruptcy?  What am I missing here? 

[Account Closed]

Originally posted by @Bernard Chouinard:

Often, I come across houses where the owner filed bankruptcy if it is recent or even 6+ years prior.  I understand the bankruptcy addresses the mortgage but according to the state records they are still the owner of the property. Do they still have the ability to sell the house even if the house was included in the bankruptcy?  What am I missing here? 

 It depends on which bankruptcy Chapt 7 or Chapt 13, it depends on whether someone else on title or on the loan chose not to file with the original filer (they still have rights), it depends on whether the Trustee has released the house from the estate, it depends on whether the debtor reaffirmed the debt, it depends on whether someone started making payments again and the bank is choosing to receive the payments instead of foreclosing, it depends on if the debtor has been making payments inside the bankruptcy, it depends on if there is a pending foreclosure that keeps getting continued, it depends on if there is a pending hearing that is scheduled to resolve some issue, it depends on whether there was a lawsuit within the bankruptcy that affects the property, it depends on whether the bank put together a stipulated agreement and on and on.

Without reading the docket we wouldn't know the situation and couldn't advise on a course of action.

Ah, twists & turns is foreclosure real estate buying. If they still own it, they can sell it. (it may require a court order, or it may not - depending)