Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - Bankruptcy can evict someone? Please Help!? - A few years back my dad and his business partner purchased several investment properties. Now due to the economy, they are both upside down in all the mortgages. At that time, my dad decided to rent his primary residence out and live in one of their investment properties. Now come to find out that the investment property that he's living in also has his business partners name on the title. His business partner is in serious trouble and had to file bankruptcy a month ago. I guess the IRS (or the proper party) told him that they would be seizing any and all assets. Because the investment property my father lives in is paid for (free and clear) the government would be seizing it. Now my dad is paranoid and thinking someone is going to come knock on his door and tell him to pack everything up and leave immediately. Is this the protocol? I would assume that there would be some kind of process that would take place. In particular something to protect a renter (or person living there) from being thrown out on the streets. My father is retired and is not in a position to be homeless. Does anyone know what the process is for a situation like this? Who should my father call? Thanks in advance! -
