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928 Purchase prior to bankruptcy

 
Old 09-24-2010, 07:18 PM
  #16  
linderpat
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Originally Posted by Tom in Austin View Post
FWIW, I cannot imagine a trustee going to the expense and effort to void a sale and buy back a car. All the costs to get the car returned, re-titled, stored, prepared for sale, advertised, etc. would surely outweigh any modest increment of 'market value' they thought was lost in the original transaction.
So then the car has already been sold? That wasn't clear to me from the hypothetical. In that case, just drive it and don't worry. If there were no lienholders on the title, the b/r will have no affect on you (again assuming a true arms length transaction and yadda yadda).
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Old 09-25-2010, 12:50 PM
  #17  
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Just to stir the pot a bit more, please consider the old adage (given new life by the intardweb) that a deal too good to be true usually isn't.

A story to sell a car is a story, believe it at your own risk.

- Josh
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Old 09-26-2010, 02:35 AM
  #18  
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Originally Posted by Tom in Austin View Post
FWIW, I cannot imagine a trustee going to the expense and effort to void a sale and buy back a car. All the costs to get the car returned, re-titled, stored, prepared for sale, advertised, etc. would surely outweigh any modest increment of 'market value' they thought was lost in the original transaction.
Actually, if the court finds that the transfer was fraudulent, they can simply seize the car from the current owner, leaving him high and dry. Then, the invested value of the car is whatever the cost of seizure would be.
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