Transfer of Horses

[Newposter]

I recently gave away a couple horses. They have no value. I owed for their keep on a farm. The farm that agreed to take them has cleared the debt to the original boarding farm and taken the horses. They have a restriction on the horses such that they can never race again. There is no way for these horses to ever earn money. They plan to geld them and using them for riding ponies.

I am going to file BK in the coming 3 months. I hope this was not a huge mistake....but it was a good life opportunity for the horses and it might not come again.

[LadyInTheRed]

I'm glad you found a resolution for the horses. I don't think it will be a problem. Be sure your attorney knows about the transfer so it can be disclosed in your petition. The worst that will happen is that the trustee will try to void the transfer and take the horses back from the farm to sell them and distribute the proceeds to your creditors. But, if your debt to the farm was validly secured by the horses, then that won't happen. Even if there wasn't a valid lien, I doubt the trustee will want to bother with them.