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Yes, you might "lose" it in the sense of being compelled to sell it in order to partially satisfy your debts.

You should consult a bankruptcy attorney for this or all other legal matters unless you're just curious, because a lot depends on the details.

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13y ago

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Related Questions

How do you save your jewelry prior to filing bankruptcy in CA?

Doing so might jeopardize your bankruptcy and land you in jail.


Your husband is co-owner of a lake home in MN with his sister She lives in FL and her husband is filing bankruptcy Chapter 7 Is the lake home safe from his creditors?

As long as the land is owned solely by your husband and his sister then it will not be affected by her husband's bankruptcy.


How long do you have to wait after a bankruptcy discharge to inherit land?

The way this question is worded implies you want to manipulate the inheritance to avoid including it in your bankruptcy. If you become an heir to land or any property (cash, motor vehicle, etc.) prior to filing or while you are in bankruptcy, or within 180 days after discharge, you must disclose the inheritance to the trustee and the court, even if you have not actually received the property. There is no "waiting."


Can a land lord evict you for filing bankruptcy?

Strictly speaking, no, they can't evict you for that, as long as you are in compliance with the terms of the lease and making rent payments. They aren't, however, obliged to allow you to stay there rent-free; if you stop paying rent, then yes, they can evict you. Filing bankruptcy could put a temporary hold on eviction proceedings, also. The bottom line is: if you're not just curious, if the answer really matters to you, then you need to talk to a bankruptcy lawyer about the specific details of your particular case.


You inherited land you dont want?

Congratulations! You can sell the land and keep the money.


Can a piece of land you are buying from an individual in a foreign country prevent you from filing Chapter 7?

Possibly. The trustee will take into consideration that the filer has assets to purchase property. It is possible that the bankruptcy can be dismissed, due to lack of good faith on the part of the debtor.


Can you file bankruptcy if you own vacant land?

Of course


Can someone who stands to inherit land lose it if they are in or file bankruptcy?

If the person who currently owns the land is not yet deceased, then the person who may inherit the land has no current interest in the property. This has no effect on bankruptcy proceedings.


How much percentage of land did Germany loose?

How much percentage of land did Germany loose as a result of the treaty of versailles


If your brother is in prison can you get sole ownership of inherited land?

yes


Can a person legally own land in Alabama without a deed?

Yes. Land can be inherited from a probated estate and it can be transferred to a new owner by a court order after a trial. The most common way to transfer ownership of land is by deed.Yes. Land can be inherited from a probated estate and it can be transferred to a new owner by a court order after a trial. The most common way to transfer ownership of land is by deed.Yes. Land can be inherited from a probated estate and it can be transferred to a new owner by a court order after a trial. The most common way to transfer ownership of land is by deed.Yes. Land can be inherited from a probated estate and it can be transferred to a new owner by a court order after a trial. The most common way to transfer ownership of land is by deed.


Do you pay federal income tax on inherited land sold?

Yes it possible would have to pay some federal income tax on any gain from the sale of this land. This will depend on how long you have held the land after it was inherited and your adjusted cost basis of the land when it is sold and the use of the land before it was sold.