Should I wait until closing?

[wellspring]

My mom wants to pay off my mobile home so I can have it transferred into my name and take advantage of the tax program we have here. Right now I'm paying my neighbor 500 a month including 5 percent interest. It's not in a park, it's on land that's leased from the state. I would pay my mom back 200 a month at zero percent interest. Good deal, works for me! However, I'm worried that because my case isn't closed yet, ( the trustee might want my tax refund) would it be considered an asset that he could take? I know I should be asking my attorney this, but wanted some input first before I call him on Monday. Is it safe to do this? Or should I wait until after income tax time and my case to close?

[lrprn]

Your bankruptcy estate is set on filing day, so it shouldn't matter what you do. However, this is very likely an asset worth many thousands of dollars. When multi-thousand dollar assets are involved in an open bankruptcy case that you didn't own when you filed but suddenly now own 100%, it's hard to trust that things will go just as they should.

If you want to be 100% safe, then wait until your case is discharged and closed. Your mom can pay off the motor home and transfer it to you then so you can take advantage of the tax program.

Just curious....what's the tax program's advantage for you? And why can't your mom take advantage of the tax program now herself as the current owner?

[wellspring]

My mom doesn't own it, my neighbor does. I was renting to own it per a verbal agreement. It's not worth a lot as mobile homes depreciate, so it's valued at around 6 grand.
School TAx Relief program (STAR) provides a partial exemption from school property taxes for owner-occupied, primary residences such as homes, condominiums, cooperative apartments and mobile / manufactured homes. Right now I can't take advantage of it because I don't own the home. My neighbor also can't take advantage of it because while he owns the home, he doesn't live in it, which is a requirement. Mom just wanted to help me out a little, let me save some money, but we want to be on the safe side before we do anything.