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Vendor may be bankrupt - will that affect my property?

 
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mswong21



Joined: 18 Jun 2008
Posts: 3
PostPosted: Wed Jun 18, 2008 10:53 am    Post subject: Vendor may be bankrupt - will that affect my property? Reply with quote
Hi, appreciate if anyone could advise me legally.

We are in the midst of finalising our SPA for a 2nd hand purchase of a condo. The vendor is a company. And during the course of finalising the SPA, we suspect that there is a possibility that the vendor may have an impending lawsuit which may result in them being liquidated/bankrupt - although there is no way we can find out for certain at the moment and the vendor is not revealing anything to us either.

If we go ahead with the purchase and subsequently moved in etc - should our suspicion come true - how will this affect our property? Will we lose the property? Is there anything we can do now to protect ourselves and the property?
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ahmed09



Joined: 14 Jul 2008
Posts: 3
PostPosted: Mon Jul 14, 2008 2:55 pm    Post subject: Issues of vendor Reply with quote
The vendor may have an impending lawsuit which may result in them being liquidated/bankrupt - although there is no way we can find out for certain at the moment and the vendor is not revealing anything to us either.
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