Disposing Of Rental Property
I am about to file chap 7.According to my attorney, I have 1 major glitch: I own 6 rentals properties, 5 of which are paid off. I do owe some taxes, water bills, and other munincipal fees on them. The buildings are in areas that do not sell, and I am having difficulty even trying to give them away to charities,churches,etc. I do owe some on the mortgage on the 6th building, which I would just like to give back to the holder. I have ben told that the trustees will not let the bankruptcy go through unitl I dispose of the buildings. ANy suggestions or advice on how to proceed?
If you want to simply let the properties go, the Trustee will sell them. You don't have to worry about it, and it will not affect you receiving your discharge.
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