Questions about items in my home that aren't mine

[lightmank]

I'm filling a chapter 7 and I was wondering about some items that aren't mine. I have a window air conditioner, for example, that belongs to my dad that I am only borrowing. I have listed everything in my home that is actually mine. So what I want to know is....will the trustee come to my home or have an appraiser come to my home to verify/appraise my assets?? If so, is it going to be a problem that I have the air conditioner and I don't have it listed because it's not mine?? I also have some items here that belong to my girlfriend and I want to make sure that those items aren't gonna cause a problem either. Thanks for the help. Kyle

[liz417]

I think you are thinking too much into this...it is very rare that a Trustee sends someone out to appraise your personal property (although, I have read a few stories on this board)...but still, you have a very small chance of being audited, unless your Trustee feels that you are hiding something. If you are still concerned about the window air conditioner, do you still have enough room to exempt it? Remember, you would only have to value it at a yard sale price.

[fltoo]

There is a question on one of the schedules that asks if anything in your house is not yours. Just list them there.

[AngelinaCat]

Hi lightmank:

Welcome to the forum.

There should be a place on your form where you list what you own and is in your possession. There should be another place where you list items that you DO NOT own and you are storing for other people. That includes items that you are borrowing.

And no, generally the trustee will not send anyone over to look at your stuff. There will have to be a very good reason for a trustee to go to the expense of hiring an appraiser to go through your things.

You are very new here, and I see and feel your pain. Try to relax a little; it DOES get better

[TEW]

If you have a house full of antiques expensive furniture that will be worth him tearing himself away from his $200 or more and hour law practice. I would worry I spent 3 days doing my inventory and I don’t think anyone ever even looked at it.

[willbfree]

Questions about items in my home that aren't mine

Our BK attorney advised us that the Trustee will make a walk through inspection of our home. I guess this is normal for our area. I am hoping that we can keep everything but it's going to be close even using the garage sale assessment method. In fairness we were also advised that we can purchase back anything the Trustee plans to take. The inspection is the thing that worries me most. Once we get done with it I'll sleep better.

[optimistic1]

Our BK attorney advised us that the Trustee will make a walk through inspection of our home. I guess this is normal for our area. I am hoping that we can keep everything but it's going to be close even using the garage sale assessment method. In fairness we were also advised that we can purchase back anything the Trustee plans to take. The inspection is the thing that worries me most. Once we get done with it I'll sleep better.

Where are you located in Arizona?