Q: Can a Trustee make you have your home appraised if you are filing bankruptcy but not including your home?
And can they (the Trustee) also have your home appraised?
A:
When you complete your bankruptcy Schedules, which ask you to list every conceivable asset you have, and you sign them under penalty of perjury, it is not possible to "not include" your house.
A debtor's opinion of its value is generally admissible as proof of value, to be considered along with any appraisals. I doubt that a bankruptcy trustee can force you to procure an appraisal, but if you don't, the trustee may get one and use it to go after potential equity in the house. It's probably wise to get an appraisal yourself, if the trustee is asking, and explain the purpose of the appraisal to whomever you select. Generally speaking, appraisers tend to be influenced by whoever pays them.
Lynn Ellen Coleman agrees with this answer
1 user found this answer helpful
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.
