Are there any personal exemptions of property in a bankruptcy action?

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If you mean exemptions of personal property, as opposed to real estate, yes, but they depend on state exemptions or federal exemptions in states that allow a choice of state or federal exemptions. Consult a local bankruptcy lawyer for specifics for your state.
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Is a mobile home exempt personal property?

That would depend on the tax laws wherever you live. -You haven't told us that !

What happens to your personal property when filing bankruptcy?

When you file bankruptcy, you are required to fill out quite a few bankruptcy papers. Among these are Schedule C, which is a form where you list the property you are claimin

What is exempt from bankruptcy?

As found on at least 100 other places here...and allowed certain modifications (albeit minor overall) in different states. . Exemptions under Federal law, which may change

Is personal property affected by bankruptcy?

Absolutely - ALL your property (all your assets) AND all your liabilities are do not pick and chose.. They are given different priorities, some debts m

What property can be exempted from a bankruptcy proceeding?

The bankruptcy laws allow a debtor to keep certain property to make a fresh start. That property is removed from the bankrupt estate and is not available to creditors. The deb

Who values personal property in a bankruptcy?

The debtor is expected to value the assets properly when preparing and filing the bankruptcy schedules. Where there are markets or sources for valuing assets, such as Edmund's

Can you sell personal property when filing bankruptcy?

When filing bankruptcy all assets are placed in a bankruptcyestate. Some assets are allowed to be protected and qualify for anexemption by the trustee. Items that are placed i

How much personal property can you keep in bankruptcy?

It depends on your state. A few states allow you to choose the federal or the state exemptions, whichever is better for you. Homestead exemptions have gotten a lot more compli

What is considered bankruptcy exempt property If you are a trustee of a realty trust is that property considered your asset?

There is a difference between something that is your asset and something that is not. Exemptions only apply to assets. Whether the realty trust is your asset depends on the t

Is it the responsibilty of your attorney in chapter 7 bankruptcy to advise you if there are any judgments against the real property you own that is exempt in the filing?

First off, I have no idea how a real property you own would be exempt from any bankruptcy filing. If it is exempt for some reason, it could only be exempt from use as an asse

Will a bankruptcy trustee take rental income on exempt property after a chapter 7 is filed?

If the property was claimed as exempt the trustee has 60 days to either exempt or reject the contract. If nothing is done then the contract is automatically rejected and the t
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Is there a homestead exemption for personal property?

A homestead exemption can be filed for a mobile home. Check with your town clerk for the procedure. Residential dwellings such as houses, condos, mobile homes are not conside

What personal property is exempt from collection in ohio?

The Ohio legal services web site has good advice and all the basic rules listed. I searched "Ohio Collection Rules" and it was 4th or 5th in the list Collections can't take pe