Ask The Get Out of Debt Experts

My Home is Being Sold in My Bankruptcy. Do I Have to Move Now?

Written by Steve Rhode

Question:

Dear Steve,

Do You Have a Question You'd Like Steve to Answer? Click Here.

Hello,I filed a chapter 7 in NH a month back and the trustee is selling the house to settle the estate (no mortgage involved, house is owned outright). I have been informed from my lawyer that she will receive $120k from homestead protection after the sale. The trustee wants me to move out within 45 days or she will be paying rent (which will be deducted from the $120k), I will also have to pay elec and utilities, trustee will pay property tax.

My question is if I move out and have another legal address, is that not considered abandoning her homestead rights? Will I still get the $120k of homestead equity if i move? Also if the house does sell and I am still living in it, how soon will she need to move out after the sale? I read somewhere that I have 6 months, but that could be wrong.

Beverly

Answer:

Dear Beverly,

These are great questions to make sure you are on the same page with your attorney. There is no way anyone on the internet could give you specific answers since these involve your situation and both state and federal law. Only an attorney who is licensed in New Hampshire can answer these questions.


Choice1 Choice2 Choice3 Big Hug!
Get Out of Debt Guy - Twitter , G+ , Facebook
If you have a credit or debt question you'd like to ask just use the online form .

READ  Our Chapter 13 Bankruptcy Has Been a Nightmare. - Holly



About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

Share a Comment / Leave a Reply

Scroll to Top