Any property the Debtor holds that is considered non-exempt property and is held by the bankruptcy estate to be liquidated and paid pro rata to all creditors.
The property that is not exempt and belongs to the bankruptcy estate. The trustee usually sells property of the estate and the claims of creditors paid from the proceeds.
The property that is not exempt and belongs to the bankruptcy estate. Property of the estate is usually sold by the trustee and the claims of creditors paid from the proceeds.
The commencement of a bankruptcy case creates an "estate." The estate technically becomes the temporary legal owner of all of the debtor's property. Generally speaking, the debtor's creditors are paid from nonexempt property of the estate.