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Is it allowable on compromise sale if relative purchases the house and allows the current homeowner(s) to live in the house.

Published 08/09/2012 08:35 AM   |    Updated 08/09/2012 01:22 PM

On compromise sales, the current owner(s) are not to receive the proceeds; however, the current owner(s) may benefit from the compromise sale if a relative purchases the house and allows the current homeowner(s) to live in the house. Would this be allowable?

Every case needs to be reviewed but the bottom line is that the net proceeds of the sale must not be less than net value.