The bankruptcy estate includes all of a debtor's legal and equitable interests (including real and personal property) as of the commencement of the bankruptcy case. A debtor, when filing bankruptcy, can claim certain property exempt from the bankruptcy estate. Property that is unable to be exempted is liquidated in a Chapter 7 to pay the administrative costs of the proceeding and the claims of creditors according to their priority.
a debtor's legal and equitable interests in property as of the commencement of a bankruptcy case.
The estate is created by the filing of a petition and is comprised of all of the property rights of the debtor as of the commencement of the case. An individual debtor may claim certain property as exempt, and if the exemption is valid, the property is removed from the estate and returned to the debtor.
The property of a debtor that comes under the jurisdiction of the bankruptcy court and trustee when a person files for protection under the Bankruptcy Code.
All assets, whether real or personal, belonging to the bankrupt debtor at the time the petition is filed. (Co-debtors' or spouse's income or property may be part of the bankruptcy estate.)
is the debtor's estate, which includes all legal and equitable interest upon the filing of the case with the bankruptcy court. The bankruptcy court trustees are most interested in the equity within the debtor's estate to which bankruptcy attorneys cannot apply the applicable exemptions. If there is un-exempt equity in a Chapter 7, for example, that will be liquidated by the Chapter 7 Trustee to pay creditors' claims, pro rata , and to pay administrative cost of the proceeding.
All legal or equitable interests of the debtor in property at the time of the bankruptcy filing. (The estate includes all property in which the debtor has an interest, even if it is owned or held by another person.)
The estate is all of the legal and equitable interests of the debtor as of the commencement of the case. From the estate, an individual debtor can claim certain property exempt; the balance of the estate is liquidated in a Chapter 7 to pay the administrative costs of the proceeding and the claims of creditors according to their priority.
All of the property you own when you file for bankruptcy, except for most pensions and educational trusts. The trustee technically takes control of your bankruptcy estate for the duration of your case.
generally, the property of the debtor that is subject to the jurisdiction of the bankruptcy court.
(U.S. bankruptcy based) The legal entity that is created when a company, individual, or other entity files a bankruptcy petition; it is the vehicle through which the filing parties' assets and liabilities are adjusted.