I live in Texas and really need to file ch 7, but have not done so yet. My wife and I own a house that is valued around 165k/ we owe 145k for it and it also needs work before it could be sold (foundation repairs). I also own 50 acres of "wilderness land" that is part of a 100 acre family plot in another state. I really want to keep this land (sentimental reasons/but we also are able to timber the land every 12 years or so). The value of the land is maybe 25-30k ideal selling conditions (my 50 acres) if sold. Is there anyway to exempt this land with Texas or Federal exemptions?
What about as part of a business?-i.e. Timber (which is not ready to be timbered for 3 to 4 years).
Thanks for any advice/help.
What about as part of a business?-i.e. Timber (which is not ready to be timbered for 3 to 4 years).
Thanks for any advice/help.
Comment