Call us: (54.11) 4896-2693 E-mail us:

The TR Company

Bankruptcy Estate

13/10/18 Bankruptcy Estate


Under bankruptcy law, at the time someone files for bankruptcy, a bankruptcy estate (sometimes called an estate in property) is created. The estate becomes the temporary legal owner of all of the debtor’s assets and property rights, with a few exceptions. Assets that are part of the estate are subject to exclusive control and the protection of the bankruptcy court.
Generally, the filing of a bankruptcy petition fixes a dividing line: property acquired prior to the filing of the petition becomes property of the estate, and property acquired after the filing of the petition, except as just noted, remains the debtor’s.

No Comments
Post a Comment