Bankruptcy – Property List
The Bankruptcy Code requires ALL property to be listed on the petition. This list is designed to start the tallying process, but think outside this list also. In most circumstances, people get to keep all their property.
- Real Estate – houses, land, commercial property, condominiums, timeshares, life estates, heir property. This includes property in your name and property not in your name that you have an interest in.
- Bank Accounts including checking, savings, CD’s… (even if the balance is $0, even if your name is on an account that is your child’s, parent’s etc…)
- Security Deposits (utility, apartment, etc)
- Household Goods – furniture, electronics, appliances.
- Books, pictures, movies, art, collectibles, records
- Furs & Jewelry
- Sports, Photography, Musical, Hobby Equipment & Firearms
- Insurance Policies
- Education IRA’s
- IRA’s, 401K, Profit Sharing, & Pensions
- Stocks & Business Interests
- Interests in Partnerships or Joint Ventures
- Accounts Receivables
- Alimony or Child Support Owed to You
- Tax Refunds or Other Money Owed to You
- Life Estates, Future Interests, & Equitable Interests
- Interests in the Estate of Decedent or Life Insurance or Trust
- Any Other Claims You Have – Social security Back pay, workman’s comp, class action lawsuits, car accident cases…
- Patents, Copyrights, & Intellectual Property
- Licenses Franchises
- Customer Lists
- Cars, Trucks, Trailers, & Accessories
- Boats, motors, & Accessories
- Aircraft Accessories
- Office equipment & Supplies
- Machinery, Fixtures etc… (used for business purposes)
- Farming Equipment & Implements
- Farm Supplies, Chemicals & Feeds
Why Happens if I Hide Property from My Eastern North Carolina Bankruptcy Attorney?
If you are tempted to hide some of your property for fear you will lose it during the bankruptcy process, you might want to think again. Everything on your property list is relevant to your case and will protect your family in the long run. After all, your papers are signed under a penalty of perjury. If you are caught hiding information or property, your case can be dismissed. Missing one or two items by accident on your paperwork is not what will get you in trouble. It is missing so many items it seems intentional. Ensure your papers are filed correctly by informing your bankruptcy attorney of all property you own.