Gift given to commonlaw

September 16th, 2008 by Questions

Prior to filing bankruptcy I transferred registered owner of a motorcycle with no money owing on it to a commo law. I just realized this constitutes a gift given in the past 6 months. As I just filed my bankruptcy on Sept. 16th/08 should I let the trustee know asap. I overlooked this through a misunderstanding of my trustee.

Posted from: British Columbia


One Response to “Gift given to commonlaw”

, Barton Goth - Goth & Company Inc. - Bankruptcy Trustees said:

Yes, you need to inform your trustee ASAP. Failure to do so could cause you significant difficulties at discharge time as it could easily be suggested you were trying to transfer that property to defeat the rights of your creditors.

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