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Inheriting Land and House After Chapter 7 Bankruptcy

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  • 01-03-2011, 12:51 PM
    Mississippian
    Inheriting Land and House After Chapter 7 Bankruptcy
    My question involves bankruptcy in the state of: Mississippi

    This is a two part question.

    1) I recently filed ch7 bankruptcy and my parents, due to their age, want to sign over my inheritance to me which is approximately 20 acres of land and a house. I told them I want to hold off for a 'few months' at the very least until my BR is completely over. Just how long should I wait?

    2) Is there a way I can have this property put into some kind of trust to protect it from any kind of future lawsuits, BR filings etc? It has been in my family for over 100 years (House is 60+ years old) and I do not want to lose it. Their are no liens or lawsuits connected to the house or property.
  • 01-03-2011, 05:52 PM
    aaron
    Re: Inheriting Land and House After Chapter 7 Bankruptcy
    Tell your parents to consult a lawyer about setting up a "spendthrift trust" for your benefit.
  • 01-09-2011, 09:53 AM
    newsroad199
    Re: Inheriting Land and House After Chapter 7 Bankruptcy
    Hi you!!!
    I am anew member in this forum. I have just read your entry. I think is is really interesting and useful for me to answer some questions.
    Hope more entries from you!!
    kind regards!!
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