Do I still own my property if I have filed bankruptcy and have included the lien or the amount that I owe in the bankruptcy estate? The answer is, yes, you still own the property even after you’re discharged from bankruptcy. The bankruptcy simply discharges the debt, meaning that you no longer have personal liability for the promissory note. The lender still has a mortgage against the property. However, they must foreclose that mortgage in order to divest you from the title. So, you should not just walk away from the property even after a foreclosure in that you can retain the property until they complete a foreclosure action. So, you still own it until such time as they’ve completed a foreclosure action against your property.
If you have any questions about ownership of your property after you’ve filed a bankruptcy action, give me a call at (727) 847-2288.