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.

Related Topics:
2 Lawyer Answers

David Adams

Answered
  • 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

Answered
  • 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.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.