Question??

[powell24]

What is the name of your state (only U.S. law)? Indiana

I am currently living in my ex's home. She is in Chapter 13 bankruptcy and surrenedered the house to the bank. She abandoned the property and I have been maintaining it. I would like to buy it or keep it somehow. What are my options?

 

[Zigner]

What is the name of your state (only U.S. law)? Indiana

I am currently living in my ex's home. She is in Chapter 13 bankruptcy and surrenedered the house to the bank. She abandoned the property and I have been maintaining it. I would like to buy it or keep it somehow. What are my options?

Make an offer to the bank.

 

[HomeGuru]

And the bank would need BK trustee approval.

 

[FarmerJ]

You said > she surrenedered the house to the bank. have you verified that by checking to see if the county property tax desk has a recorded change in ownership ? if it has not then has there been formal notices like say newspaper foreclosing notice to her published ? Will she cooperate with you to perhaps get it sold to you or is the amount she owes such that its not worth it that way but may well be worth buying once its been foreclosed on ?

 

[latigo]

And the bank would need BK trustee approval.

In the context of 11 USC 554 (the authority of a Trustee in Bankruptcy to abandon an asset of the debtor’s estate), it means to surrender, relinquish and forego any and all claim thereto!

So please explain how the Trustee having determined that the debtor held no equity in the home to be liquidated for the benefit of the unsecured creditors, and hence abandoned it back to the bank, what authority the Trustee could exercise with respect to the future disposition of the property?

I’ll tell you. None whatsoever! By definition, the Trustee retains no interest in an abandoned asset.