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?
Answer:
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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