Sale of Property in Bankruptcy
At Liviakis Law Firm, we work with real estate owners who have complex debt problems and wish to obtain financial stability through use of the Bankruptcy Code. Whether residential or commercial property, Chapter 11 bankruptcy and Chapter 13 bankruptcy provide the opportunity to sell property in bankruptcy at a price that maximizes profit for business owners and home owners, respectively, rather than foreclosing on property to sell it and use the proceeds to pay creditors.
For questions about bankruptcy property sales and the advantages compared to a short sale, contact me, a Sacramento attorney, for a free initial phone consultation today. When we meet, I will thoroughly explain your options and the implications of each.
Folsom Attorney, Advising on Asset Sales in Bankruptcy
Section 363 of the Bankruptcy Code, accessible through filing for Chapter 11 or Chapter 12 bankruptcy, allows the debtor to make sales, uses and leases of property using auctions, financial advisers, investments, transfers of contracts and other business transactions that are part of normal business operations.
Any sales, uses or leases of property outside the ordinary course of business require that the debtor obtain court approval and give notice to all creditors and interested parties. Property can be sold free and clear of liens and with minimization of successor liability under Section 363 — thereby increasing the value added to investors and improving chances for a profitable sale.
If filing for bankruptcy does not serve your financial goals, I can also assist with other options available for selling property to relieve debt, including short sales and trustee sales.
For Questions About Bankruptcy Purchases, Contact a Citrus Heights Lawyer
At the Liviakis Law Firm, we represent clients in communities throughout Sacramento County, El Dorado County and Placer County, California. Our conveniently located offices in Rancho Cordova and Sacramento are open 9 a.m. to 5 p.m. Monday through Friday. Free parking is available.
For a free initial consultation about property sales in bankruptcy with an experienced bankruptcy lawyer, contact an office near you. Your choice of legal representation can have a significant impact on the success of your bankruptcy filing.