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  1. #1
    Join Date
    Sep 2010
    Location
    Mississippi
    Posts
    6

    Default 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.

  2. #2
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default 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.

  3. #3
    Join Date
    Jan 2011
    Posts
    1

    Default 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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