Asset ?

[EndInSight]

Recently a friend told me their friend changed titled ownership of a vehicle/travel trailer, showing him as new owner. This is an older trailer but still worth something and I was surprized it was allowed.

Granted this is concerning a C7 BUT is that legal to do just before filing beit a C7 or C13?
The friends attorney had no problem w/it but I thought there was a rule...60/90 days.....???

Just curious............not sure if 341 had/has taken place.

Thanx
Miss Posh

[soleprop]

it isn't illegal to buy or sell something at fair market value. however, it is considered fraud when someone tries to hide assets from the system by transferring them to other people. it's not wise to have any such transfer in your history if you're going to file bk. if there is such a transfer, be prepared to discuss it with the trustee or the bk court.