LL Selling Property

[kthomp66]

What is the name of your state? Ohio

Hello again.
A few months back, i posted how my LL was filing chapter 13. to my knowledge, there are no mortgages on the house or liens, other than backed property tax. The courts are now forcing a sale of the home, so i have a couple of questions.
1. Does anyone know where the auction would take place? The property isn’t owned by a bank, so who would be selling the property?
2. If it’s an auction, is it possible to make a bid on the home before the actual auction?
3. My lease ends in October. Does anyone know if they have to honor that despite the sale, or can I be forced out in a month or two?
4. What are the odds of getting back my deposit?
Thanks in advance.

 

[adjusterjack]

1. Does anyone know where the auction would take place? The property isn’t owned by a bank, so who would be selling the property?

The bankruptcy trustee probably. You might or might not get notice of the where or when.

I suggest you check out the LL's case file on PACER where you can access the BK court's documents. You'll have to register with a credit card. There are nominal fees involved which are explained on the website:

https://www.pacer.gov/

But it would be worth your while to be able to see documents in your LL's case file.

2. If it’s an auction, is it possible to make a bid on the home before the actual auction?

See the following for the basics. Make sure you verify that with an attorney.

http://www.findwell.com/blog/buying-a-home/buying-real-estate-in-bankruptcy/

3. My lease ends in October. Does anyone know if they have to honor that despite the sale, or can I be forced out in a month or two?

I don't know the answer to that but be prepared to leave on short notice. Don't sit on your thumbs waiting until the last minute.

4. What are the odds of getting back my deposit?

When you check the bankruptcy documents see if you are listed as a creditor. If you aren't there may be a process by which you can be added as a creditor. Either way, you'd probably be at the bottom of the list of unsecured creditors and may have to kiss it goodbye.

 

[kthomp66]

I will check out PACER this afternoon. I almost did last night but it said something about authorized personnel only lol.
So basically I could be $1400 is what i’m understanding. If i pay next month, but get the boot in says August, then I’ll be out the last month I paid for at the start of the lease, plus the deposit. Unless he gives actual notice. Interesting. Thank you. I’ll have to look into all of these resources.

 

[HRZ]

technically you still own and hold title to the security which is merely being held by LL ...and I would at least notify the trustee and the LL of same and the sums and demand the safety or return of same ...you are not entitled to return until lease is up or otherwise surrendered ....