Home     Law Advice     Insurance Advice     Community    
Consumer Bankruptcy : Chapter 7, Chapter 13, Protection From Claims of Creditors
Go Back   FreeAdvice Legal Forum > BANKRUPTCY AND CONSUMER CREDIT > Consumer Bankruptcy
Reload this Page owning property after bankruptcy????

Powered by Attorney Pages


  Find An Attorney In Your Area    
 

Reply
 
LinkBack Thread Tools Rate Thread Display Modes
  #1  
Old 02-15-2007, 07:48 AM
Junior Member
  
Join Date: Jan 2006
Posts: 12

owning property after bankruptcy????

What is the name of your state? TN
Hello. My home is currently under my FIL's name. He is wanting to transfer the home over to my husband and me. I filed ch 7 last year. Am I supposed to wait a certain time afterwards to have propoerty in my name? I was thinking that it is one year, but I am not sure if that is one year after the filing or the disbursment date?????

Thank you!!
  #2  
Old 02-15-2007, 10:01 AM
Senior Member
  
Join Date: Nov 2005
Location: South Cackalacky
Posts: 15,040
Quote:
Originally Posted by tnc79 View Post
What is the name of your state? TN
Hello. My home is currently under my FIL's name. He is wanting to transfer the home over to my husband and me. I filed ch 7 last year. Am I supposed to wait a certain time afterwards to have propoerty in my name? I was thinking that it is one year, but I am not sure if that is one year after the filing or the disbursment date?????

Thank you!!
Has your bankruptcy been discharged? If so, what was the date?
__________________
My new signature:
Originally Posted by arazi
Quote:
I'll take you on one-to-one in a volcabulary test anywhere, anyplace, anytime.
  #3  
Old 02-15-2007, 10:16 AM
Junior Member
  
Join Date: Jan 2006
Posts: 12
The discharge was in June06. I had filed in Feb if that matters.

Thank you
  #4  
Old 02-15-2007, 11:18 AM
Senior Member
  
Join Date: May 2001
Posts: 6,450
Once your bk is discharged and closed, you're free to do as you please.
  #5  
Old 02-15-2007, 05:39 PM
Member
  
Join Date: Feb 2007
Posts: 30

Your BK filing date is the end of an era.

Money you make after the filing date, or property you acquire after the filing date, is yours, outside of certain restrictions- an inheritance, for example. You do not need to be discharged to be able to start reaccumulating money and/or/property in a chapter 7 BK. However- the customary advice is to not have changes in income or assets after the filing date and before the 341 date.
  #6  
Old 02-15-2007, 08:20 PM
Senior Member
  
Join Date: May 2001
Posts: 6,450
Quote:
Originally Posted by Sebaatian View Post
Money you make after the filing date, or property you acquire after the filing date, is yours, outside of certain restrictions- an inheritance, for example. You do not need to be discharged to be able to start reaccumulating money and/or/property in a chapter 7 BK. However- the customary advice is to not have changes in income or assets after the filing date and before the 341 date.

This is not correct. Chances are, once the 341 is concluded, the trustee is done with you. But, until the bk is cllsed, the trustee still has controll over yur case.
We had a lady here last year whose home had equity exempt from creditor seizure. She sold the house after discharge but, prior to the bk clolsing. The trustee discovered the sale and revolked the discharge and went after the equity received.
The issue is not can yolu accumulate property post filing. Just be sure it's not over the exemption level prior to closing.
Reply

« Previous Thread | Next Thread »


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes Rate This Thread
Linear Mode Linear Mode
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Forum Jump

All times are GMT -5. The time now is 10:57 PM.

Contact Us - FreeAdvice - Archive - Privacy Statement - Top

IMPORTANT NOTICE
THE VIEWS EXPRESSED ON THIS PAGE WERE NOT REVIEWED BY THE EDITORIAL STAFF OR ATTORNEYS AT FREEADVICE.COM. Thousands of professionally prepared and reviewed questions and answers in 130 legal categories are to be found at the Question and Answer pages at FreeAdvice.com.
FreeAdvice Forums are intended to enable consumers to benefit from the experience of other consumers who have faced similar legal issues. FreeAdvice does NOT vouch for or warrant the accuracy, completeness or usefulness of any posting or the qualifications of any person responding. Use of the Forums is subject to our Terms and Conditions which prohibit advertisements, solicitations or other commercial messages, or false, defamatory, abusive, vulgar, or harassing messages, and subject violators to a fee for each improper posting. All postings reflect the views of the author but become the property of FreeAdvice. Information on FreeAdvice or a Forum should not be relied upon and is not a substitute for advice from an attorney licensed in your jurisdiction who you have retained to represent you. To locate an attorney visit AttorneyPages.com. Copyright since 1995 by Advice Company. All Rights Reserved.