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Yes but the trustee can seek to include the money received in your estate. If you have sold it to family or friends to avoid losing it in bankruptcy, the trustee can have the sale reversed.
Wiki User
∙ 15y ago
Wiki User
∙ 14y agoIf the property is sold for fair market value, yes.
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Can you sell personal property when filing bankruptcy?
When filing bankruptcy all assets are placed in a bankruptcy estate. Some assets are allowed to be protected and qualify for an exemption by the trustee. Items that are placed in exemption are permitted to be sold, but the trustee should be notified prior to the sale.
Does bankruptcy attorney keep rental property income?
The answer to this question depends on whether you are filing Chapter 7 or Chapter 13 bankruptcy. In Chapter 7 bankruptcy, if the rental property has equity, meaning that the value of the property exceeds what is owed on the property, the trustee would almost definitely seize property and sell it to satisfy some or all of your unsecured debts.
Can you sell a motorcycle after filing bankruptcy?
yes you can i know my stuff
How do you get value of personal property for filing bankruptcy For Schedule B such as couch chairs washer dryer it asks for value is that determined by purchase price or what it could sell for?
What it could realisitically sell for
How long after filing chapter 7 can you sell your vehicle?
The debtor cannot sell nor transfer any property without the permission of the bankruptcy trustee or until the BK has been discharged and closed.
Should you sell GM stock prior ot bankruptcy filing?
Yes
Can you do a short sale after a house was included in a bankruptcy?
No. The title to the property is encumbered by the bankruptcy. You would need the court to release the property in order for you to be able to sell it. You should discuss it with your attorney.No. The title to the property is encumbered by the bankruptcy. You would need the court to release the property in order for you to be able to sell it. You should discuss it with your attorney.No. The title to the property is encumbered by the bankruptcy. You would need the court to release the property in order for you to be able to sell it. You should discuss it with your attorney.No. The title to the property is encumbered by the bankruptcy. You would need the court to release the property in order for you to be able to sell it. You should discuss it with your attorney.
Can a bankruptcy trustee sell assets not owned but being used or leased at the time of filing?
No.
Can one sell property after the trustee has indicated what assets must be liquidated?
If you are in the midst of a bankruptcy proceeding the title to all your property is in the trustee. You can't sell any property. You should direct any questions to your attorney or to the trustee in bankruptcy.
Can you sell property prior to a bankruptcy?
Yes, for fair market value.
Can you sell your house while in bankruptcy?
You cannot sell your property during a bankruptcy proceeding. If a bona-fide offer is made to purchase the property a motion is filed for permission to sell. If allowed, an order is issued by the court that frees the property from the bankruptcy so it may be sold free and clear of your bankruptcy by the trustee. The proceeds from the sale will then be controlled by the trustee in bankruptcy.
Can you sell house to son before bankruptcy in IL?
You cannot convey property to avoid creditors. The court can nullify the conveyance. You should consult with an attorney.
