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If 2 individual that have no relation own land together. 1 person files Chapter 7, can the courts foreclose on land?2 people own land together that is not related. One of those individual is in Chapter 11 and is fixing to convert to Chapter 7 bankruptcy. Can the courts foreclose on the land? If we current & in good standing with the bank. Attorney answers (2)
Reputation Level 16
Answered over 2 years ago.
Chapter 7 Bankruptcy Attorney in Atlanta, GA.
First of all, did you mean Chapter 13?
Courts don't foreclose on homes. However, if there is sufficient equity in the home,. a bankruptcy trustee will force a sale of the home. If there is a small amount of equity, the house may be safe, but the answer there depends on facts we do not have. 1 person marked this answer as good
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Reputation Level 15
Answered over 2 years ago.
Bankruptcy Attorney in Carlsbad, CA.
More facts are needed as to how much equity is in the property before this question can be answered with certainty.
LEGAL DISCLAIMER Mr. Larkin is licensed to practice law in CA and is located in San Diego. His response here does not constitute legal advice and does not create an attorney/ client relationship. The response is in the form of legal education and is intended to provide general information about the matter in question. Many times the questioner may leave out details which would make the reply unsuitable. Mr. Larkin strongly advises the questioner to confer with an attorney in their own state to acquire more information about the specifics of their case. Related Questions1 Attorney answers: 
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