Can my ex-husband buy a piece of property that is being sold at a state auction, if his name is already on the land to be sold?
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Can my ex-husband buy a piece of property that is being sold at a state auction, if his name is already on the land to be sold?
Asked on December 4, 2011 under Real Estate Law, Arkansas
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
There is nothing precluding your former husband from making a bid at a presumed foreclosure sale auction or tax auction of a piece of property that he already owns from a legal standpoint. I suspect that your former husband has consulted with an attorney about the benefits of what he intends to try to accomplish.
Possibly the loan that is secured by the land that is going to auction is a purchase money loan and your former husband will try to get the land back at a reduced purchase price where the loan that he signed that secures the property would be retired.
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