0
What else can I help you with?
What do you do with property that has been unclaimed in a bankruptcy?
It depends. Depending on the interest of the Trustee in Bankruptcy, and whether or not they have abandoned the property, will determine whether or not the debtor in Bankruptcy will be permitted to take the property if the creditor has abandoned the property. Bottom line is that it depends on the facts, contact your Bankruptcy attorney or a reputable Bankruptcy attorney to get more information.
How will bankruptcy affect the sale of real estate property?
No property can be sold, transferred, refinanced, etc. while in bankruptcy without the permission of the bankruptcy court.
What is the property limit you can include on a bankruptcy?
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.
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.
While in bankruptcy can you lease your property?
Yes
If you file a bankruptcy will your holdings in another country be protected?
In a US bankruptcy, you will have to turn over all property of the estate. Out of country assets are property of this estate.
Does North Carolina have personal property tax?
Yes; Noth Carolina has property tax.
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.
How long do you have to wait to file bankruptcy after I have passed a property on to your son?
Thank you for passing your property to my son. Since I do not have a son, I guess it remains in limbo. If your son paid you the value (equity) of your home, you will have to disclose the transfer, but it will have no effect on your bankruptcy. If you gave the property to your son for free, and there was equity in the property, probably two years, if you gave the property knowing you were insolvent and intending to deprive your bankruptcy estate of the asset. It would have been better to discuss this with a bankruptcy lawyer before passing the property, as you might have been able to exempt the property in the filing.
Can bankruptcy be filed on partially own property?
The answer to this really depends on the nature of the property and how it is held (i.e. tenants in common, joint tenancy). You can file for bankruptcy for your personal debts. If the ownership debt is easily severable then it is likely that you would be able to file for bankruptcy and include the property as well.
Can you declare bankruptcy without an attorney?
It is possible to file bankruptcy without an attorney. But it would only be suggestible to those with a good comprehension of the current bankruptcy laws while keeping up to date with any changes to those laws. A person would have to how to submit all the complete information, dates of deadlines, which property they are entitled to claim as exempt as well as which property that are not entitled to, and finally what chapter of bankruptcy to file under. A result of not completely adhering to or understanding the law and procedures, could lead to a dismissal without debts being discharged. If a person does not have the comprehension to follow this whole procedure, it would be best to simply consult with an attorney.
What is a Motion for Abandonment?
It is in regards to property that the trustee has decided has a minimal value or would be less than the cost of liquidation. Any scheduled property that the trustee does not administer is deemed abandoned when the bankruptcy is closed.
