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cortrightlaw
cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
Experience:  Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
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My sister had her bankruptcy discharged 12/1010. Her mother-n-law

Customer Question

My sister had her bankruptcy discharged 12/1010. Her mother-n-law has passed away several years ago but the family kept everything in tack as is. Her and her husband didn't even know if they would ever sell the property. Now the other sisters want to sell the house and cash out. Is this a problem for her and her husband? According to the real estate agent, there could a sum of $75,000+. The house is in a trust,. They were told the trust is not taxable. Will the bankruptcy court want that money?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  cortrightlaw replied 5 years ago.

cortrightlaw : Give me a minute to review your question and respond
cortrightlaw : She is fine she was only under a duty to disclose assets aquired after bankruptcy from 180 days of the bankruptcy filing. Unless she really owned the asset prior to her filing then it should have been reported on her original filing.
cortrightlaw : Your question employes that her mother died prior to her filing bankruptcy so her portion o the inheritance should have been listed.
JACUSTOMER-upc3tazf- :

Is the money tracked. If they cash the check, will the bankruptcy court find out?

cortrightlaw : It is not tracked and if the case is discharged the trustee is no longer monitoring he case,
cortrightlaw : But it should have been disclosed
cortrightlaw :

Have I satisfactorily answered your question? If I have please remember to click the GREEN ACCEPT BUTTON so that I will receive credit and compensation for my time (doing so does not end our discussion), i will gladly clarify my response or respond to follow up questions if needed.