Who Pays Back Taxes On Surrendered Home?
Hello, I have a question, I recentely surrendered my home for sale to pay off some secured creditors on my Ch. 13 plan. However, I do owe about 1,800 on property taxes and about 700 on some utilities like gas and electric etc. The trustee is supposed to liquidate my house and any remainging money after mortgage is payed will go toward my secured creditors, the question that I have is who is supposed to pay the taxes and utilities? Do I have to pay it myself or the trustee pays them off? Any help is appreciated. Also, when does the trustee come to sell it? Its been almost a month since the court order to surrender it and nobody has came, how long does the process normally take?
The taxes are paid by whomever purchases the property (usually the bank). The utilities are wiped out by the bankruptcy. How long the process takes depends on which state you live in. Generally, there is a title search obtained, the property is advertised for sale, and then sold. I strongly recommend discussing these issues with your attorney. He or she is familiar with local practice, and can let you know the details of what will happen (rather than the generalities that I give).
| Bankruptcy FAQ Main Page | Do It Yourself Bankruptcy | Cost Of Bankruptcy | Business Bankruptcy | Bankruptcy Types | Bankruptcy Procedure | Bankruptcy Mortgage | Bankruptcy Law | Bankruptcy Info | Bankruptcy Forms | Bankruptcy Debts | Bankruptcy Court | Bankruptcy Chapter 11 | Bankruptcy Chapter 7 | Bankruptcy Alternative | Bankrupcty | Bancruptcy | Personal Bankruptcy Laws | Personal Bankruptcy | Life After Bankruptcy | Filing Bankruptcy |