Abandonment and Trustee Report

[OhioFiler]

The Individual Estate Property Record and Report lists all of our assets each with a designation under a column headed "Property Abandoned OA=§554(a) DA=§554(c)

The house and one vehicle are listed as OA and all other assets are listed as DA. The vehicle we intend to return to the bank. Not the house. We intend to keep the house and continue mortgage payments.

We received notice of Trustee's Abandonment Real Estate with the opportunity to object or ask for a hearing.

We are listed as an asset case but the only asset listed is $1.00 for Income Tax Refund Monies.

Is this notice significant? Why are some assets deemed abandoned under 554(a) and others under 554(c)?

The relevant paragraphs are :

§ 554. Abandonment of property of the estate

(a) After notice and a hearing, the trustee may abandon any property of the estate that is burdensome to the estate or that is of inconsequential value and benefit to the estate.

(c) Unless the court orders otherwise, any property scheduled under section 521(1) of this title not otherwise administered at the time of the closing of a case is abandoned to the debtor and administered for purposes of section 350 of this title.

[LadyInTheRed]

The trustee specifically abandoned the house and car because they are a burden to or of no value to the BK estate. All of the other assets listed in your petition are automatically abandoned at the time your case is closed because no other action has been taken regarding those assets. Sounds like your case is about to be closed if it hasn't already.

(note that the reference in 554(c) should is to 521(a)(1))