If the possum has a rental agreement, the possum can retain possession though contract end.

Although sellers can push a button and get an offer, the obvious downside is that they aren’t going to retain as much of their equity.

It's not advisable to let them do this because then there will be nothing left over to cover damages that are left (and that's why leases usually prohibit it), but tenants often do it anyway and when they do you can legally retain their security deposit to help offset the money you're owed for rent.I wouldn't tell them you're going to do it though. 

Hello All-  Briefly, this is what I've learned:  Most of this info was relayed to me via MY real estate agent who, in turn, was informed by the seller's agent.In this instance the owner/seller is in some way disabled or incompetent and the sale is being administered by an attorney retained by the family. 

The more appropriate statement is that the debtor will retain the home and carry it through the BK by some means (Retain and pay pursuant to contract, reaffirm, etc.)

It even runs and sounds like good ol' American Muscle.

@DJ DawsonIn order to preserve the maximum amount of account value (no tax hit) and retain the tax-sheltered status of the funds, you would want to look into a self-directed IRA, or if you will be self-employed with no full-time employees, perhaps a Solo 401(k).These self-directed retirement plans provide the flexibility to invest beyond the stock market into assets such as real estate.Of course, it is not "you investing in real estate", or something where you can draw current income. 

As you and your FIL may have conflicts of interest, it's advisable that you both retain your own CPAs.There are intricacies that need to be considered. 

Your area may be different in terms of the process and disclosures but I've noticed lots of similarities between different areas.The way that process works, technically until the bank actually bids on their own property as part of that auction, ownership is still retained by the homeowner. 

I would just try to retain the deposit, or worst case pay him pack the deposit if is not worth your time.