If there is a loan for the vehicle it must be paid off before the lender will release the title. The bankruptcy exemption status does not confer ownership of the vehicle to the BK petitioner unless the vehicle was already owned free and clear. It simply indicates that the car was not subject to BK procedure.
Bankruptcy covers all you property and all your debt. Some places allow 1 car as exempt from the sale of property, but not all. You need to check your local rules and ask it be exempt at your bankruptcy hearing.
In most cases you will not lose your home during your bankruptcy case as long as your equity in the property is fully exempt. Even if your property is not fully exempt, you will be able to keep it, if you pay its non-exempt value to creditors in chapter 13.
If both persons were sued and a judgment awarded but only the husband filed bankruptcy and included the debt; the judgment can still be executed against any non-exempt property belonging to the wife and perhaps jointly owned property as well. The legal presumption is that the debt is still owed because it was jointly incurred.
If the vehicle was not included as non-exempt property in the BK petition it is considered exempt from sale and seizure.
If by "property limit" it is meant what personal and real property can be exempted from bankruptcy, that is determined by the type of bankruptcy you must file, federal or state. To discover what the type and amount of property one is allowed to exempt you can search federal bankruptcy exemptions or (name of state) bankruptcy exemptions; in a few states the person can choose to use either set of exemptions or a combination thereof.
Generally, Home Equity up to $150,000 is exempt from a bankruptcy if the property is HOME STEADED.
A worker's comp settlement is exempt from bankruptcy in PA. When you file for bankruptcy, you will lose anything that you owe money on.
In Chapter 7 bankruptcy, you ask the bankruptcy court to discharge most of the debts you owe. In exchange for this discharge, the bankruptcy trustee can take any property you own that is not exempt from collection.
Generally, these are exempt assets and they remain yours, preumably to take with you.
the word homestead exempt applies to bankruptcy or judgments and your home is exempt
Yes you can sale your home but the bankruptcy court will take the proceeds from the sale and disburse them to your creditors that you owe. No, everything except your selected exempt property belongs to the bankruptcy estate, as of the moment you file, and it can only be sold by the bankruptcy trustee, with permission of the court, to satisfy your debts in an orderly fashion.