What are my options to get a property out of my name?

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What are my options to get a property out of my name?

I filed for Chapter 7 approximately 4 years ago. At the time, I voluntarily surrendered my house to the bank and moved out shortly thereafter. The bank foreclosed and sent to sheriff’s sale 2 years ago but did not sell due to minimum bid not being met. They did not put it back up for sale, and last year, received a voluntary dismissal without prejudice. The house has stood vacant for 3 years and now the bank has stopped upkeep on the house.

Asked on August 3, 2012 under Bankruptcy Law, Ohio

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

In order for the bank that was the presumed lender on your former home to place the unit up for sale, legal title must be no longer in your name. The reasoning is that the bank cannot sell an item that it does not have the legal right to sell. Since the bank foreclosed on the property, title is no longer in your name.

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

In order for the bank that was the presumed lender on your former home to place the unit up for sale, legal title must be no longer in your name. The reasoning is that the bank cannot sell an item that it does not have the legal right to sell. Since the bank foreclosed on the property, title is no longer in your name.


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