FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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analyst

If I own a piece of land “wood lot” and I file for bankruptcy, do I have to sell it or can I keep it.

I don’t own nothing else, no house , and old car worth less than 4000.

Tks

Posted from: Quebec

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One Response to “analyst”

A licensed trustee said...

In order to keep the land you will have to pay an amount equal to the land’s fair market value into your bankruptcy. You will need to have the land appraised to determine it’s fair value and then give a copy of the appraisal to your trustee.

You should work all of this out BEFORE you file – you don’t want to file and then find out that you can’t afford to keep the land.