bankruptcy estate


The legal property of a debtor who is in bankruptcy and that is available to pay his or her creditors. This estate can consist of the debtor's interest in jointly held property, however it does not include any assets that are held in ERISA qualified retirement plans and any 401(k) retirement plans.

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You may find that you can get a good price if you go to the auction of a bankruptcy estate and are lucky.

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If a person's bankruptcy estate covers the debt in addition to suitible funds for maintaining monthly epences, a lawyer may decide to futher look into whether or not they are suitible for bankruptcy.

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I spent the better part of the night in my home office working out the details of the bankruptcy estate, much to the chagrin of my wife who tried to cheer me up with tea and chocolate.

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