310.376.9865
When a person files bankruptcy his Chapter 7 Bankruptcy Petition, his bankruptcy lawyer will ask the petitioner what property he owns, both real and personal property. The bankruptcy lawyer will go over a fairly comprehensive list of personal property to stimulate the petitioner’s memory.
What happens if the petitioner forgets that he owns some property, and he receives his bankruptcy discharge a few months later? Does he get to keep the property?
Oh Contraire!
Under section 554(d) of the bankruptcy code: “property of the estate that is not abandoned under this section and that is not administered in the case remains property of the estate.”
So how long is this section of the code applicable?
In re Dunning Brothers Company unscheduled property remains property of the bankruptcy estate even 73 years later. A case that was filed in 1936 failed to list an interest in real property. The case was reopened in 2009 to administer this interest in real property.
List everything you own.
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Los Angeles/Orange County Chapter 13 Bankruptcy Attorney
- Law Offices MJ Mann Bankruptcy Attorney
- 2706 Artesia Blvd, Suite BK
- Redondo Beach, CA 90278
- 310.376.9865
