Mesa, AZ asked in Bankruptcy for Arizona

Q: We filed chapter 7 recently, we sold a home a little over 3years ago, will the trustee give us a hard time?

Trustee is asking about real estate transactions for the past ten years, our last home was sold 08/2014, we filed chapter 7, 02/16/2018. We didn’t have the debt we do now that forced us to file chapter 7 at that time. Can the trustee try to reverse that sale to get the money? We are currently renting.

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1 Lawyer Answer
Mallory Powers
Mallory Powers
  • Bankruptcy Lawyer
  • Phoenix, AZ
  • Licensed in Arizona

A: The Trustee is looking into real estate transactions to find out if there are any funds available for your creditors from the sale. He/she will probably want to know what the proceeds from the sale were and how/when they were spent. Since your sale was four years ago, you probably won't have any problems or too much inquiry, unless any proceeds were recently spent. If that is the case, you should speak with an attorney to assist you in dealing with the trustee.

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