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When is Abandoned Property really Abandoned?

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    When is Abandoned Property really Abandoned?

    We filed Chapter 7 in March of 2013 and were discharged in June of 2013. The Trustee filed an 'Intention to Abandon Property of the Estate' October 2013. No objections were filed by creditors. Included in the "Abandoned Property" are several rental properties, utility trailer, riding lawn mower, etc. We would like do workouts with some of the lenders. Two properties were financed by a close relative which was fully disclosed to the trustee. The trustee has not closed our case with the court as of yet. We do not want to compel the trustee to reexamine any of the abandoned assets (if that is possible). If no objections were filed within the prescribed time period and the trustee has still not closed our case is it improper or hazardous to pursue workouts with the lenders and our relative?

    Thanks for any comments!

    #2
    If you have gotten through discharge, you are pretty much done. Go back and read your documents. It is a formal notice by the trustee to the court that he/she intends to abandon interest in any of the named assets. If there were going to be any objections, those would be filed as a follow-up documents. Although I would wait until the Close comes, you should be okay work with your relative.

    BTW, we were an Asset 7 case with 'Abandoned Assets'. Our case did not Close until 15 months after our discharge.

    Good luck to you.
    "To go bravely forward is to invite a miracle."

    "Worry is the darkroom where negatives are formed."

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