Contract Buyers Filing Bankrupcy

[Renock]

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


My daughter and her husband were transferred to another state from Indiana. They sold their home on contract. The haven't received a payment since April (checks they have received have bounced). Now the "buyers" are filing for bankruptcy. Do they have any recourse?

 

[nextwife]

Presuming they did the sale properly and created a recorded, enforcable instrument, they can foreclose them out under the terms of the agreement(after filing a motion for relief and being granted the MFR). Is there an underlying mortgage AND are they making certain those payments are made?