Need legal opinion on bankruptcy cobra purchase!

[TKing]

Hi Joyridin:

No, I did not make a deposit, so perhaps I can get out of it. Actually I want the car, but the sale process has been such a headache it's not worth all the potential problems.

[Tommy]

Tom,
I'm no attorney, but here's what I would do if I wanted to proceed without the benefit of paid legal advice. I would send a registered letter to the seller's attorney (and an email telling him to look for the letter) offering to close the deal as previously agreed subject to the following stipulations:

• The car is in the condition described in the deal.
• A clear title document is provided at the time full payment for the car is provided.
• The deal is closed not later than (date you choose).

I would close by saying that I entered into the purchase agreement based on assurances the deal would be done by (date) and the car would be kept in very good condition until the sale was complete. But if those conditions are not met, I will consider the sellers actions to have voided the agreement.

Good luck.

[patrickt]

Jeez... Don't rely on anything posted here. Hire yourself a lawyer that is admitted to the bankruptcy court where all of this stuff is going on. Do that first thing tomorrow.

[Tommy]

Originally Posted by patrickt

Jeez... Don't rely on anything posted here. Hire yourself a lawyer that is admitted to the bankruptcy court where all of this stuff is going on. Do that first thing tomorrow.

Tking: "I cannot afford a legal fight ..... "

-------------------------

As long as we're disregarding Tom's original question, I suggest he hire former Attorney General Ben Civletti. I understand he charges $1,000 per hour.

[patrickt]

Originally Posted by patrickt

Hire yourself a lawyer that is admitted to the bankruptcy court where all of this stuff is going on.

... because there is a better than 50/50 chance that the Judge's Order approving the sale of the car to you included language like "This Court shall retain jurisdiction to enforce and implement the terms and provisions of the sale agreement...."

Let us know how it all plays out....

[DanEC]

I would think you have the right to a final inspection of the property at the time of conclusion of the sale when money changes hands. If the paint is damaged when you inspect it then you should have grounds to void the sale - or get a further price reduction.

[Thor maine]

Originally Posted by Tommy

Tom,
I'm no attorney, but here's what I would do if I wanted to proceed without the benefit of paid legal advice. I would send a registered letter to the seller's attorney (and an email telling him to look for the letter) offering to close the deal as previously agreed subject to the following stipulations:

• The car is in the condition described in the deal.
• A clear title document is provided at the time full payment for the car is provided.
• The deal is closed not later than (date you choose).

I would close by saying that I entered into the purchase agreement based on assurances the deal would be done by (date) and the car would be kept in very good condition until the sale was complete. But if those conditions are not met, I will consider the sellers actions to have voided the agreement.

Good luck.

You also want to send a letter to the court and judge that is overseeing the bankruptcy. The court will check and has the final say over deals made by the trustee so if any below the boards deal happens the judge could reverse it.

[saltshaker]

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Jon