Bankruptcy Estate & The Realtor’s Open Escrow

How can bankruptcy trustee’s demand the debtor’s real estate commission from  escrows open when the bankruptcy case is filed? Twice this month, I’ve watched debtors and their counsel surprised by the turnover demand of Chapter 7 trustees for the proceeds of a real estate transaction pending when the case commencement, but closing weeks after the […]

Surrendering Property in Bankruptcy

Your client’s statement that he is surrendering property in his bankruptcy case is nothing more than a statement of future intentions.  It does not serve to transfer the property from the debtor to the secured creditor, or any one else. I was reviewing a draft bankruptcy petition for a new lawyer where his client’s  husband […]