I am considering buying a home under a Contract for Deed from a seller who is in the process of declaring
bankruptcy. The seller has not filed bankruptcy yet, but probably will within the next 3 months. If I purchase the home under a Contract for Deed, will my investment be protected in spite of the bankruptcy, or will I be in jepardy of losing the home because the deed is still in the seller's name?
That is a great question, and I do have an opinion. But since this is a real estate forum and not a legal forum, my only recommendation is that you consult with an attorney. The risks and consequences are way to serious for you to take 'opinions' from a public forum like this anyway.
By the way, why in the world would you even want to consider doing something like that? Just wondering...
Best of luck!
...randy
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