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House Sale – Years Ago

I was told a recent home sale, the proceeds goto the creditors. But what if it was a long time ago – a couple of years.

Could you clarify what is the rule on this time frame?

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One Response to “House Sale – Years Ago”

A licensed trustee said...

The time frame for selling a house chnages depending on who you sold it to. If it was sold to an unrelated person (or persons) then the time frame is one year prior to bankruptcy. If you sold it to a related person (or gave it to your spouse) the time frame is five years.

Just bring the house-sale documents with you when you go to see a trustee. they will be able to easily tell you if there are any issues with your sale.