Please help

[maxxeffort]

I have a family member that is in a chapter 7, I had some stock that was under my name and his and the trustee took control and froze the account. How do I go about getting these back, I live out of state and don't know what to do?

[justbroke]

Did you have these in a joint brokerage account or something? Or, are you thinking that there is either a problem with a matching name or your social security number (SSN)? Either way, you will need to contact the Trustee in the case and find out why they are holding your account. There is no way to speculate as to why the Trustee would freeze an account if the name and SSN doesn't match, or it's not a joint account.

Otherwise, you may need to employ counsel. There seems to be something else going on. You filed for Chapter 7 earlier last year as well. I do not know if these events are related.

[maxxeffort]

Did you have these in a joint brokerage account or something? Or, are you thinking that there is either a problem with a matching name or your social security number (SSN)? Either way, you will need to contact the Trustee in the case and find out why they are holding your account. There is no way to speculate as to why the Trustee would freeze an account if the name and SSN doesn't match, or it's not a joint account.

Otherwise, you may need to employ counsel. There seems to be something else going on. You filed for Chapter 7 earlier last year as well. I do not know if these events are related.

it was a joint ameritrade account...I filed and was discharged over 2 years ago, so that's not the issue. The person I have the joint account with is going through a BK and they just took control of all of the stocks without notice.

[despritfreya]

The Trustee took control because the moment your family member filed, the asset became property of the estate. The Trustee has the right to liquidate the asset, however you do not lose your rights to that portion which you can prove is yours. So the question is. . . who really owns the stock, you or your family member or both? If you both own it in equal portions you will need to show that you contributed half to purchase the stock that is in the account. The more of a percentage that you own the more you must prove. Do you understand?????

Des.

[maxxeffort]

The Trustee took control because the moment your family member filed, the asset became property of the estate. The Trustee has the right to liquidate the asset, however you do not lose your rights to that portion which you can prove is yours. So the question is. . . who really owns the stock, you or your family member or both? If you both own it in equal portions you will need to show that you contributed half to purchase the stock that is in the account. The more of a percentage that you own the more you must prove. Do you understand?????

Des.

Thank you...do I need to contact the court and file a motion or contact the trustee?

[justbroke]

You need to contact the Trustee and provide proof of ownership (whether it's 100% ownership or some portion). I'm sure the Trustee will give you instructions on how to provide such proof.