QUESTION

If I inherited land from my parents after their death and I declare bankruptcy can the court take my land

Asked on May 25th, 2025 on Bankruptcy - Louisiana
More details to this question:
Hardship financial due to credit cards, unemployment and health issues
Report Abuse

1 ANSWER

Bankruptcy Attorney serving Gretna, LA
2 Awards
Here is some general information regarding inheritances and bankruptcy. It should not be considered legal advice concerning your particular fact situation. When someone files a Chapter 7 bankruptcy, a trustee is appointed to liquidate all of their nonexempt property and pay their creditors who have filed proofs of claim. When a person files a Chapter 13 bankruptcy, they get to keep their nonexempt property as long as they pay their creditors what is called the "liquidation value" of the property and pay all of their disposable income to a bankruptcy trustee for 3 to 5 years. Unimproved land is generally nonexempt from seizure and sale under Louisiana law (and therefore IS reachable by the bankruptcy trustee) unless the land is part of a person's homestead. Furthermore, if someone files bankruptcy today and they inherit property within 180 days of filing, the trustee may be able to administer and sell that property. There may be a workaround, if the person's parents have not yet passed away, but it would likely involve their parents making a will or creating a trust. Your situation is too involved to give you a quick answer on an Internet website. You should immediately consult with a Louisiana attorney for specific advice concerning your individual situation..
Answered on May 27th, 2025 at 6:47 AM

Report Abuse

Ask a Lawyer

Consumers can use this platform to pose legal questions to real lawyers and receive free insights.

Participating legal professionals get the opportunity to speak directly with people who may need their services, as well as enhance their standing in the Lawyers.com community.

0 out of 150 characters