0
Since the land would not be a homestead, it would probably be exempt, unless your specific state has an exemption to undeveloped land/wildcard. Assuming no, if you sell the property to family below its actual value, then YES, the trustee would be able to "retake" the property back into your bk estate.
What else can I help you with?
When can you file chapter 13 after filing chapter 13in the past?
You can file a another 13 after 2 years have passed from the previous 13 filing date.
When filing Chapter 7 bankruptcy should a car that is not paid off be included on the schedule of personal property?
no
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.
You just sold property can you still file chapter 7?
Yes. If the sale was within two years of the bankruptcy filing or was to an insider, like a family member, the trustee can undo, or avoid the sale, particularly with real estate.
What is chapter 13?
It's a chapter of bankruptcy. It allows the person that is filing to keep their property. The person that has filed will pay back their debts over a three to five year period.
When can you file a chapter 7 bankruptcy if you had a chapter 7 discharged in December 2001?
The bankruptcy petitioner can file another chapter 7 8 years after the date of filing of a previous chapter 7.
If you filed a civil suit before chapter 13 was filed and then won the civil suit while still in chapter 13 can the trustee get any of the money?
It depends on the type of lawsuit and whether or not you are entitled to claim any of the proceeds as exempt. In most cases, state law determines what property you get to keep when filing for bankruptcy. This is called "exempt" property, meaning it is exempt from being used to benefit your creditors. The general rule in a Chapter 13 is that all nonexempt property belongs to the estate, including property acquired after the filing the Chapter 13. However, the debtor generally remains in possession of the property. If you properly disclosed the existence of the lawsuit in your BK filing, the Chapter 13 plan approved by the Court likely has some language addressing the lawsuit. You need to read the Chapter 13 plan to see what it says on the subject.
How soon after filing for a Chapter 7 Bankruptcy can you file another?
if your still in chapter 7 you have to get out first but you can file again check the laws in you state on chapter 7. laws has chang.
Can you move to another state while filing chapter 7?
You need to appear 1x to finalize. After that, ok.
Does income count AFTER you file chapter 7?
A person's income does not count after filing chapter 7 bankruptcy. All that counts is what you had before filing bankruptcy.
Does a chapter 13 bankruptcy filing stall foreclosure?
Yes. It is the most common reason for filing a chapter 13.
Is there a period of time after filing for bankruptcy you should wait for income that isn't affected?
In a chapter 7, no post petition income constitutes property of the bankruptcy estate. So to answer, no. In a chapter 13 or 11, all post petition income constitutes property of the estate.
