If I am in bankruptcy can I assign my shares to my sister? 6 Answers as of March 28, 2011

Can bankruptcy law prevent me from assigning my share of my parents estate to my sister? My bankruptcy may deter the sale for months.

Ask a Local Attorney. 100% Anonymous. Free Answers.

Free Case Evaluation by a Local Lawyer: Click here
Mercado & Hartung, PLLC
Mercado & Hartung, PLLC | Christopher J. Mercado
I'm assuming you filed a Ch 13, you cannot assign property without court approval.
Answer Applies to: Washington
Replied: 3/28/2011
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
You must report any inheritance received within 180 days of the filing of your petition the trustee. Failure to do is bankruptcy fraud. You could go to jail for that. The word "received" means when the decedent died, because that is when your interest in it vested.
Answer Applies to: California
Replied: 3/25/2011
The Law Office of Mark J. Markus
The Law Office of Mark J. Markus | Mark Markus
That depends on what chapter of bankruptcy you filed and whether the asset has been abandoned by the Trustee in your case (assuming your case has a trustee).
Answer Applies to: California
Replied: 3/24/2011
Gus Johnson Attorney at Law
Gus Johnson Attorney at Law | Gus Johnson
You need to consult with the attorney who filed your bankruptcy
Answer Applies to: South Dakota
Replied: 3/24/2011
Law Office of Harry L Styron
Law Office of Harry L Styron | Harry L Styron
The answer depends on whether your parents died before or after you filed bankruptcy and on whether you filed under Chapter 7 or Chapter 13. If it was before and a Chapter 7, then the inheritance may belong to the bankruptcy trustee. If you attempt to transfer it the trustee can avoid the transfer. If it is any of the other situations then you should consult a bankruptcy attorney with the documentation.
Answer Applies to: California
Replied: 3/24/2011
    Greifendorff Law Offices, PC
    Greifendorff Law Offices, PC | Christine Wilton
    No. You cannot transfer your property to avoid the trustee's taking. That may constitute a preferential transfer even though it may cause a delay in probate.
    Answer Applies to: California
    Replied: 3/24/2011
Click to View More Answers: