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Law Pro
Law Pro, Attorney
Category: Bankruptcy Law
Satisfied Customers: 24870
Experience:  20 year experience in practicing law.
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I am considering file in Chapeter 7 BK in Texas, I own 3 acres

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I am considering file in Chapeter 7 BK in Texas, I own 3 acres of prime land in New Mexico free and clear. Can I be forced to sell this land to statisfy unsecured debts?
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  Law Pro replied 8 years ago.
Hello, I presume that you reside in Texas and own a home there. If so, yes, the court would most likely make you sell the land; however, you do have some exemptions but it would seem that the land would not fall into any of the allowed exemptions. So, my answer would be yes, the you would be forced by the trustee to sell the land to satisfy the debt.
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