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question about giving car to someone after discharge

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    question about giving car to someone after discharge

    I have a friend who filed Chapter 7 BK, he had no assets and his case is scheduled to be discharged tomorrow. He has been driving a truck of mine for the past year, it's an 08 Ford Ranger, in any case, I want to give it to him. In exchange he will be giving me a z-turn lawnmower for some property I own, which I need. He properly exempted the mower on his schedules. What are the implications of me giving the car to him and him titling it after his discharge. He doesn't want the trustee to see that he acquired a car after his discharge. FWIW, he never had ownership of the vehicle, I paid for it with my own money, and it was not one of these situations where it was "titled in my name" shortly before the BK. How does this type of thing work??? I wanted to do the deal along time ago, but he told me to wait b/c of the BK..so I did.

    #2
    Once he's discharged, his financial affairs are his own business. He can acquire assets, dispose of property as he sees fit.

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      #3
      I thought that if a person gets gifts, etc within 6 months of a discharge,a TT can take them, or does that only apply to life insurance or an inheraitance?

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        #4
        Something doesn't seem quite right to me.

        You own a 2008 Ford Ranger you acquired last year (presumably new) that you almost immediately gave to your friend to drive and now you want to exchange it with him for a riding lawnmower?

        There is more to this story than you're sharing.
        Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

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