Saturday, 22 November 2014

If you are in bankrupcy and someone wills you a house can it be taken from you?

Question

If you are in bankrupcy and someone wills you a house can it be taken from you?



Answer

Yes, assets (money, property, etc.) received by inheritance within 180 days of the filing of a bankruptcy become part of the bankruptcy estate. If the debtor receiving that inheritance cannot amend their exemptions to cover all the the inherited assets, then they will likely lose some of it to creditors.



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