Can I sell exempt property after meeting but before discharge date?

[Jti2002]

Hi everyone I had my 341 meeting on April 2, everything went ok. My home has been exempted under the California exemption up to 75k. I have about 70k in equity but want to know if I have to wait til discharge before I can sell the home? I've pretty much hit rock bottom, current job has been cut on hours due to being slow. I need to sell home and relocate to look for a new job. But cannot since I'm broke and cannot relocate without money. Since my bk was a no asset case and seems like the trustee abandoned my case can I list my property before discharge and then close after? I figure my discharge will be in June sometime. Anyone else experience this situation and have any comments..?

[justbroke]

That property is still property of the bankruptcy estate until the earlier of, the case closing, the Trustee abandoning the asset, or the case is dismissed, whichever comes first. That's fancyspeak to say that you should not sell any property until at least discharge and without speaking with your attorney.

As for listing it now, that's an interesting concept and I can't really comment on whether that would be considered a sale. To me, you would need to wait until actual abandonment, discharge, and/or case close. I don't think it would be a bad thing to talk to listing agents and getting a feel for the market values and commissions. You could seek approval from the court to sell as well, if your case lingers and you need to get a sale done.

[despritfreya]

Until the property is abandoned by the Trustee you cannot sell it. Further, while your exemption is protected, any increase in value over the exemption belongs to the Trustee unless and until the property is abandoned. Since your equity is close to the allowed exemption you may want to consider requesting that the Trustee abandon the property now. Please discuss this with a bk attny who is familiar with your Trustee.

Des.

[bluediamond2077]

Here is a question, i put down a 40 inch tv and the next day after I filed there is big lines in the screen. The tv is done. Can I throw it away? Or can I some how give it to them?

[LadyInTheRed]

Here is a question, i put down a 40 inch tv and the next day after I filed there is big lines in the screen. The tv is done. Can I throw it away? Or can I some how give it to them?

Although the trustee being interested in the TV is much less likely than the trustee being interested in the OP's real estate, the answer is the same. Until the trustee has abandoned the asset or your case is closed or dismissed, you should hold on to the TV and all assets you had on the date you filed. You could ask your attorney to contact the trustee about the TV, but your attorney may charge you to do that. It's safer and simpler to just put the TV in the garage and hold on to it for now.

[bluediamond2077]

thanks I thought that would be the case. I guess i'll just shove it out in the shed until august. Good thing i came across this post because we were about to toss it.