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Posted On: May 2, 2010 by Scott Sagaria

Transferring Property After A Bankruptcy

A Sacramento lawyer discusses transferring property after a bankruptcy

Transfer of real estate after a bankruptcy is filed may be cancelled by the trustee. Upon filing a bankruptcy a trustee is assigned to liquidate assets, if any. If a filer transfers property after filing then the trustee has the authority to recoup the property because is was transferred without the permission of the trustee. By recouping the property the trustee is able to preserve the property for possible liquidation and repayment to any creditors filing claims in your case.

Any recipient of property must turn the property over or pay its value to the trustee. If the recipient then again transfers the property with out any knowledge of the filer’s bankruptcy then the transfer is deemed to be in good faith and the property does not have to be returned to the trustee.

A trustee can use his post filing avoidance powers before the earlier of two years after the transfer or at the time the case is closed or dismissed.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento and Roseville!

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Posted In: Chapter 11 Bankruptcy , Chapter 13 Bankruptcy , Chapter 7 Bankruptcy

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