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socrateaser
socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 40285
Experience:  Attorney and Real Estate Broker -- Retired
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I need a lawyer...an expert in personal bankruptcy in Chapter

Customer Question

I need a lawyer...an expert in personal bankruptcy in Chapter 7. I have a signed bill of sale for a time share I sold in 09'. Do I need an actual transfer of title for it to be recognized as the other persons property and not mine ..before the trustee hearing?
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  socrateaser replied 8 years ago.

In order for the timeshare to be the property of some other person and beyond the reach of the bankruptcy trustee, title woud have to have been recorded with the appropriate government agency at least 90 days before you filed your bankrupty petition. Bankr. Code § 547.

 

Otherwise, the bankruptcy trustee could potentially avoid the transfer. Though, as a practical matter, since timeshares are effectively unmarketable, the trustee probably won't care one way or the other, because there's no money in the timeshare that could benefit your unsecured creditors.

 

Hope this helps.

 

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Customer: replied 8 years ago.
Thank you very much...
Expert:  socrateaser replied 8 years ago.
You bet. Best of luck.