Post-Petition Property Transfers

Post-Petition Property Transfers Every so often clients will ask me if they can sell, give away, deed, or transfer property after their bankruptcy is filed.  I’m glad that they ask, because the consequences for a prohibited post-petition property transfer are steep. Let’s quickly review how property works in bankruptcy.  Once you file bankruptcy, all property becomes property of the bankruptcy … Continue reading »

Lessons From the Casey Anthony Bankruptcy

The Casey Anthony bankruptcy is a good illustration of the two immutable rules of bankruptcy: Everything can be monetized. If it can be monetized, the chapter 7 trustee will liquidate it. In case you’ve been living under a rock for the last couple of years, the Casey Anthony bankruptcy case is as follows.  Casey Anthony was accused of murdering her … Continue reading »

Automobile Exemption Decision

In re McMillin,  — B.R. –, 2010 WL 3515682 (Bankr. D. Or. 2010). This is an interesting case for gear heads, auto buffs, and fans of Top Gear.  The question was whether a collection of auto parts that had never been assembled into an automobile could nevertheless be exempted under the Oregon exemption statute.  The parts were for a 1926 … Continue reading »