Asset Abandonment Real Property?

[ccmisery]

I have some real property that I am believing will be lost in my chap 7 case, I have not received any updates or heard anything regarding the status, talked to my lawyer about it and was told that the trustee will file an update in 6 months but that I won't know anything for a year on the status or if they decided to abandon it.

Has anyone had any experiences with this? Would the property come back to me if so?

[AngelinaCat]

Has anyone had any experiences with this? Would the property come back to me if so?

Yes. Although, in our case it happened a lot sooner than the time-frame you give. If the trustee decides to 'Abandon Interest', you will see a notice on PACER, and you will get a copy of it in the mail.

I take it, that this property is not covered by your Florida Homestead Exemption.

In our case, our Real Property (22 acres) was covered by the Homestead Exemption, and the fact we had sold the property to the St. Johns River Water Management District, and have retained a Life Estate on it.

On our three automobiles at the time, the 2004 VW Jetta Wagon TDI, still had about 10 months to go on a car note; the 1993 Pontiac GrandAm SE (the ex-police car) had well over 100K miles and was valued at about $300.00; and the 1968 Chevy Impala, with no brakes that had sat on blocks in the garage for four years...

The trustee issued a document formally Abandoning Interest in these items as being either "fully encumbered, exempt, or of no value".

Good luck to you!

[Tony733]

I have some real property that I am believing will be lost in my chap 7 case, I have not received any updates or heard anything regarding the status, talked to my lawyer about it and was told that the trustee will file an update in 6 months but that I won't know anything for a year on the status or if they decided to abandon it.

Has anyone had any experiences with this? Would the property come back to me if so?

In my case the trustee filed an update in 6 months cutting the asset value in half. But since, to date, it has been over 1 1/2 years and nothing has been filed or updated on my real property (vacant lots). No notices, No filings, Nothing.