What assets sold before filing need to be accounted for and what time frame? A jetski over a year ago? What value cutoff? Isn't a sale for market value something that doesn't need to be on the bk statement of financial affairs because it is a "normal course of business"? Or is it to just be prepared to answer questions if they see a large deposit on the checking account months before filing? I thought that question on the 'statement of financial affairs" is for any internal gifts or assets transfered within 24 months of the petition which were not at "fair market"?
-
-
My attorney told me anything older than 12 months from the filing period does not have to even be brought up period. I had to move from Ohio to Az and couldn't afford to move my stuff, junk basically and just left alot of it at my sister's house for her to do with as she pleased 4 years ago and she said it is no longer part of the bankruptcy estate after it was transferred to another peron more than one year ago and you have no intention of keeping it or claiming ownership to it.
Comment