If Summary Judgment is granted in favor of a Sheriff Sale against my property, can I still file Chapter 11 BK before the sale?

Asked over 1 year ago - Las Vegas, NV

If Summary Judgment has been granted in favor of a Sheriff Sale against my rental property, can I still file Bankruptcy Chapter 11 to save it? Other lawyers in this forum told me that up to right before the Sheriff Sale I can still file Chapter 11 and stop the foreclosure.

Attorney answers (4)

  1. Thomas D. Boley

    Contributor Level 14

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    Answered . Yes, bankruptcy can be used as a tool to avoid a property sale. BUT, not always. We would need a much more in-depth knowledge of your situation, especially when it comes to Chapter 11. This is a complex question that would require a lot of analysis before answering.

    My law partner represents clients in Chapter 11 bankruptcies. Call us for a free consultation. You may need an emergency filing.

  2. Richard Edmund Hawkins

    Pro

    Contributor Level 16

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    Answered . If you actually had a judicial foreclosure here (uncommon, but they exist), then yes, you can file before sale. Similarly, an 11 filed here can stop a sale in another state.

    You *really* need experienced counsel before diving into an 11, and you need to understand what will be happening and the limits of Chapter 11.

    We can usually get people in for a consultation the same or next day.

  3. Alan James Brinkmeier

    Contributor Level 20

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    Answered . You may not use bankruptcy to avoid the common known judgment and avoid the court relief.

    What are all your facts?

  4. Justin Michael Luna

    Contributor Level 4

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    Answered . What state is the property located in? Generally speaking, the filing of the Chapter 11 petition before a sheriff's sale will stop the sale, however, as my colleges have pointed out, whether you are able to save this property long term is a function of a number of other facts. My answer may also change depending on what state law says with respect to this issue as well, which varies from state to state.

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