Pre-Chap 7 Real Estate question (Primary res)

[jmc]

I haven't figured out how to succinctly ask my question so bear with me!!

The equity in my home is exempt in my state (OK). This I know....

I may end up in a situation where I've filed BK, haven't sold my home yet, and have a job opportunity a couple states away.

If this opportunity came about is there any ramifications for me Leasing the home out? Do I need to wait until after file date, discharge, closure?

[StartingOver08]

Wait until the Trustee files their notice of "abandonment" of your assets. This notice is typically filed within 10 days after your 341.

Once you file BK, all of your assets become part of the BK estate so you can not do anything to change the BK estate - rent/sell/transfer etc. Fortunately, the time period from filing BK to the Trustee abandoment of assets is relatively short. If you are extremely cautious, you might consider waiting until after your discharge to rent the property. Ask your attorney for guidance.