How does bankruptcy affect website ownership? 16 Answers as of June 27, 2011

I own a website which I make money from google advertisements, will this asset be seized if I file for bankruptcy?

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Breckenridge and Walton
Breckenridge and Walton | Alan D. Walton
The website is an asset that has to be listed and valued. If you can exempt it, you can keep it. The income stream has value that that can be sold if you cannot exempt it.
Answer Applies to: Michigan
Replied: 6/27/2011
Jackson White, PC
Jackson White, PC | Spencer Hale
If you file a chapter 7 then yes. You could protect it in a chapter 13. You really need an attorney.
Answer Applies to: Arizona
Replied: 6/24/2011
Daniel Hoarfrost, Attorney at Law
Daniel Hoarfrost, Attorney at Law | Daniel Hoarfrost
You have to disclose all of your assets, including business interests, if you file bankruptcy.It's up to the trustee to determine whether there is value in the business that justifies trying to liquidate it.
Answer Applies to: Oregon
Replied: 6/23/2011
Law Office of Asaph Abrams
Law Office of Asaph Abrams | Asaph Abrams
A good question that taps into the broad definition of asset. Whether you can protect an asset depends on its value and the exemptions or protection-limits available to you. Consider the market value for your website.
Answer Applies to: California
Replied: 6/23/2011
Burnham & Associates
Burnham & Associates | Stephanie K. Burnham
The asset will not necessarily be seized if your attorney can exempt the value of the business. Please seek the advice of a Bankruptcy Attorney to assist you in this matter.
Answer Applies to: New Hampshire
Replied: 6/23/2011
    Mercado & Hartung, PLLC
    Mercado & Hartung, PLLC | Christopher J. Mercado
    This is considered income and should be scheduled as such.
    Answer Applies to: Washington
    Replied: 6/23/2011
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    That depends on your state exemption scheme and what the value is of you other assets. Check with a local bankruptcy lawyer. You can keep lots of things in bankruptcy if you use the exemptions properly.
    Answer Applies to: California
    Replied: 6/23/2011
    Law Office of Maureen O' Malley
    Law Office of Maureen O' Malley | Maureen O'Malley
    Is the website a personally-owned business or is it incorporated? Does the site have any value if you sold it? If it does, you could possibly exempt it. It brings you income, I presume, which is another consideration for whether you qualify. I suggest you see an attorney and explain the specifics for any more precise response.
    Answer Applies to: Virginia
    Replied: 6/23/2011
    CONSUMER PROTECTION ASSISTANCE COALITION, INC. (DE).
    CONSUMER PROTECTION ASSISTANCE COALITION, INC. (DE). | Gary Lee Lane
    The site is same as any other property.
    Answer Applies to: California
    Replied: 6/23/2011
    Law Office of Margaret D. Wilson
    Law Office of Margaret D. Wilson | Margaret Wilson
    The bankruptcy could affect website ownership if the trustee considers it an asset that is not exempt. Therefore, if someone filing bankruptcy had a website is important they wanted to keep that you have to declare it as an asset and apply the appropriate exemption. ***The above only applies to California.
    Answer Applies to: California
    Replied: 6/23/2011
    Theodore N. Stapleton, PC
    Theodore N. Stapleton, PC | Theodore N. Stapleton
    It will be unless you exempt it. Please call to discuss.
    Answer Applies to: Georgia
    Replied: 6/23/2011
    Indianapolis Bankruptcy Law Office of Eric C. Lewis
    Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
    Everything you own is an asset of the bankruptcy estate and may be subject to seizure if it is not exempt under applicable exemption law.
    Answer Applies to: Indiana
    Replied: 6/23/2011
    Bankruptcy Law office of Bill Rubendall
    Bankruptcy Law office of Bill Rubendall | William M. Rubendall
    Owning a website is subject to liquidation (sale of the asset) by the chapter 7 trustee. If the value of the website is nominal or within the allowed exemptions it may be kept. One consideration might be to file a chapter 13 to ensure being able to keep the asset.
    Answer Applies to: California
    Replied: 6/22/2011
    Bird & VanDyke, Inc.
    Bird & VanDyke, Inc. | David VanDyke
    If the website has value then it must be exempted or it could be liquidated by the court. The issue is whether this type of asset has any real value and whether it could be sold on the open market.
    Answer Applies to: California
    Replied: 6/22/2011
    Symmes Law Group, PLLC
    Symmes Law Group, PLLC | Richard James Symmes
    The website would be considered an asset of your bankruptcy estate. Therefore you would have to have enough exemptions available to protect this asset. You should speak to a bankruptcy attorney in your jurisdiction to determine if it would be protected or not.
    Answer Applies to: Washington
    Replied: 6/22/2011
    Ashman Law Office
    Ashman Law Office | Glen Edward Ashman
    Maybe and maybe not depending on the many facts you omitted that affect the answer (how much is the site worth, what state are you in, what other assets you have, etc).
    Answer Applies to: Georgia
    Replied: 6/22/2011
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