Olathe, KS asked in Bankruptcy for Kansas

Q: Our bankruptcy has not yet been closed . We bought land on April 16 , 2018. are we going to be able to keep it.

We filed chapter 7 in July 25th of2017. in Kansas. we received our discharge from our ceditors on Nov 14, 2017. our bankruptcy case has not closed.

we bought land April 16, 2018 and bought used vehicles Dec. 2017 and one in Jan. 2018. Will we be able to keep our land and vehicles or will our trustee take them back Thanks for your time.

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2 Lawyer Answers

David Adams

  • Bankruptcy Lawyer
  • Olathe, KS
  • Licensed in Kansas

A: Assuming your source of funds to purchase these items did not consist of hidden funds that existed at the time of the bankruptcy filing, you should be fine. Purchasing assets after discharge but before the formal closing of the case, is not a problem, just so long as there weren't any assets undisclosed in the bankruptcy when you filed.

Timothy Denison

  • Bankruptcy Lawyer
  • Louisville, KY

A: If your discharge has been entered, you will be able to keep your post petition purchases. The fact it is not closed is probably through administrative or clerical oversight. You should be fine unless the source of your post petition purchases were not teported or hidden from the trustee.

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