Can I buy a house for cash if I’m in the third year of a Chapter 13 re-payment plan

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Can I buy a house for cash if I’m in the third year of a Chapter 13 re-payment plan

The cash was obtained through divorce and withdrawn from retirement funds.

Asked on January 15, 2015 under Bankruptcy Law, Pennsylvania

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

As long as you are obeying the plan, you can do this. That means not just paying the amounts due under the plan (though, of course, you have to do that), but also complying with whatever the plan may say about disclosing additional funds that become available to you to the court, using those funds, etc. If you stay in compliance with the plan, you may purchase the house.


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