Deed in Lieu - What Items Can We Keep

[LAA17]

We have signed a Deed-In-Lieu of foreclosure on our home. (We had filed a chapter 7, which was discharged in April of this year.) However, we had an agreement with our bank to try and sell the house during a 6 month period. At the end of 6 months, if the house was not sold, it was to be deeded over to the bank. Well, the house has not sold and the 6 months is up in a few weeks. My question here is this - can we take our fridge, range and draperies with us when we move??? We don't want to do anything that would get us into trouble. Starting over again past the age of 50 is hard enough. Sure don't need to create more problems, but if we are entitled to these things, then we sure as heck don't want to go off without them.



Thanks to anyone that has any info on this.

[TEW]

as long as the deed is still in your name you should be able to take what you want. I would.

[BKParalegal]

The rule of the thumb is if you were to take your house and turn it upside down. Everything that falls out is yours, what stays is part of the house.

Good Luck

[justbroke]

Feel free to take anything which isn't considered "attached" to the property. Fixtures, "built-in" cabinets, water softener, water heater, furnace, and other things which have been permanently attached, should be off limits. (There are some who feel that anything is fair game, including doors and windows... )

Curtains, drapes, "un-installed carpeting" (e.g. throw rugs, area rugs, etc.), washer, dryer, refrigerator, stove (unless built in counter-top type), anything on wheels, dishwasher (unless it's the "built-in type" and it's questionable). Don't take pipes, gutters, screen enclosures which are attached, permanent above-ground pool/spa (only if permanently installed -- of course, an in-ground is off limits).

I will add that things permanently attached, can be replaced with something else. For example, keep your mother's chandelier... and replace with a cheap light socket. Same goes for your Moen or other expensive faucet fixtures you installed. However, don't rip out the cabinets and bathtub.

But that's me... I'm of a different moral fiber and would feel real guilty "gutting" a place. Especially if I just BK'd the debt.

I love BKPara's way of ascertaining what's not "attached".

[LAA17]

Thanks to all for your information. My question is answered. As someone else said, I don't want to gut the place. Just want take what we are allowed to take.

Thank you.