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

Powered by Attorney Pages


  Find An Attorney In Your Area    
 

Reply
 
LinkBack Thread Tools Rate Thread Display Modes
  #1  
Old 06-10-2009, 02:24 PM
Junior Member
 
Join Date: Dec 2005
Posts: 11

selling assets whil in bankruptcy?


The broad strokes:
Husband and wife file bankruptcy in Mississippi. They file on medical bills and home mortgage. Husband and wife list their joint assets (house, 2 acres land adjoining, 2 vehicles). Husband lists 35 acres of land and farm equipment that was willed to him 6 months prevously. Keep in mind that these "recently inheireted" assets are NOT co-mingled with wife, and are not listed on any loans husband has filed bankruptcy on. Husband is paying about $1000 monthly on this bankruptcy.
Question:
Can the above husband see any part of the inheireted land whil under this bankruptcy? I want to buy some adjoining acreage and husband needs money.

Husband has filed for divorce. Wife has agreed to said divorce. Divorce judge will not grant the divorce UNTIL husband and wife settle ownership of home (that is listed on bankruptcy). Neither person wants the house and would really like to get out from under home.

Can judge MAKE husband sell his inheireted land and give part of sale to wife? It sounds like the judge is ruling that the land is co-mingled, which it is not!
  #2  
Old 06-10-2009, 04:53 PM
Senior Member
 
Join Date: May 2001
Posts: 6,453
The property is part of the bk estate.
If it's sold, depending on the percent payback to unsecured creditors, the trustee may well increase the amount of the payback.
They should do nothing until they speak with their bk attorney. Just too many unknowns to know if it'll be worthwhile to sell while in a 13.
Reply



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes Rate This Thread
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 11:39 AM.



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.

F
reeAdvice 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.