If I had to foreclose on my apartment but the co-op board is still charging maintenance fees every month, can I claim bankruptcy since the charges adding up?
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If I had to foreclose on my apartment but the co-op board is still charging maintenance fees every month, can I claim bankruptcy since the charges adding up?
Asked on January 10, 2012 under Real Estate Law, New York
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If your apartment was foreclosed upon and you are no longer of record ownership to the unit, the maintenance fees assessed as to the unit which would be your responsibility would no longer be your responsibility once you were off legal title to the property.
In the event your liabilities greatly exceed your assets and you are having a difficult time financially, you should consult with a bankruptcy attorney as to your options for filing bankruptcy protection.
From what you have written, you potentially can file for bankruptcy protection so that you will not have to pay for the maintenance fees of your former unit.
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