Existing home financing and bankruptcy

  • Erstellt am 2021-03-15 19:06:46

WingVII

2021-03-16 14:31:24
  • #1
One cannot rule out a fictional scenario. Perhaps he, as a self-employed person, is planning a larger investment and wants to be aware of the consequences for the worst case.
 

Grundaus

2021-03-16 14:38:03
  • #2
The most important thing is missing. Is he filing for personal bankruptcy or just the company, and what legal form did the company have? Does the house belong to both of them? If he is liable with all his assets and owns part of the house, you will definitely need a lawyer. If the construction financing was taken out with a different bank than the company loans, this will result in a years-long dispute. A foreclosure is not so easy and quick to enforce for a bank that is not registered in the land register. Above all, only an ideal (his) share will be auctioned, which no one buys.
 

ypg

2021-03-16 15:07:35
  • #3
I don't know if something like that is still possible in an ongoing proceeding, because from when does one speak of delayed insolvency filing?
Sell the ideal half of the house to a trusted person (wife, children).
I have also been through that, but as a daughter. However, there was a foreseeable time period before. My father became a tenant of mine. After 5 years, everything was reversed.
 

11ant

2021-03-16 15:27:31
  • #4
Transferring assets in an insolvency would also be punishable, but insolvency delay is something else: namely to "shape" an insolvency date and/or to report an already existing insolvency beyond the deadline.
 

ypg

2021-03-16 15:30:47
  • #5
Thanks, completely misapplied by me ;) But I think you know what I mean regarding an "insolvency fraud" ;)
 

11ant

2021-03-16 15:35:45
  • #6
So quickly, while the insolvency administrator is almost already reaching for it, to just transfer the house would be "killing two birds with one stone": useless and (for all involved) criminal at the same time *LOL*
 
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