Bankruptcy Lawyers San Jose - Motions To Sell Property
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Bankruptcy Lawyers San Jose - Motions To Sell Property

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MOTIONS TO SELL PROPERTY

Each Motion to Sell Property must include the following information:

A. Items to be included in the Motion.

  1. A description of the real or personal property to be sold including any legal descriptions of the property.
  2. A copy of the sales contract or agreement with signatures of all parties involved.
  3. A breakdown of any lien holders on the property including amounts owed to each creditor.
  4. The proposed or final date of sale.
  5. The name, address, and phone number of any closing agent involved with the sale.
  6. Should include language allowing property to be sold free and clear of all liens with liens to attach to the proceeds.
  7. The reason or necessity to sell the property.
  8. Shall include language that explains which creditors will be paid through closing and indicate how those creditors were to be paid pursuant to the Debtor’s Plan.
  9. If residual funds are produced from the sale, the Motion and Order should clearly state the disposition of those funds subsequent to the sale.
  10. Shall allow for a final signed and executed closing statement to be forwarded to the Trustee immediately upon closing.
  11. Shall indicate if the property was claimed exempt.

B. Noticing Requirements.

Notice of the Motion should be served upon all parties having filed a notice of appearance, all creditors, U.S. Trustee, and Trustee.