Posted by John Merchant on November 21, 2005 at 09:47:48:
When Seller filed his BK, he handed over all his realty to the BK court to manage, so of course it’s no longer his to run and manage as he might want.
I’ve managed to buy a fair number of properties from the BK Court by filing motions supported by evidence of property’s value (in range I want to prove).
BK Trustees main job is to find money to settle creditors’ claims, so when I’ve offered cash money, the T’ee has paid attention and frequently approved my plan & purchase offer.
Title to any realty being sold with T’ee’s approval and by court order is clean and marketable title.
And, by the way, since a Fed BK Court’s rulings have legal precedence over state courts, once the T’ee does approve something, it’s beyond attack by other courts.