19 months into joint chapter 13 plan. Mother Inlaw giving us her car because she can no longer drive. No money changing hands, its a gift. Do I need to report this to my trustee ? Will it effect our plan payment amount ?
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Is she giving it, as in transferring the title? Is the car already in the paperwork as being 'passed down' to you and your spouse? Or is she giving it in the sense that she can no longer drive it, so here it is? If it is the latter situation, I would consider that you are 'storing it' for your MIL.
How much is this vehicle worth in terms of today's prices, via Kelly Blue book, or any other such tool, including what the local used car salesman might say?
We really need to have a little more information before we can give an informed answer.
Thanks
Last edited by AngelinaCat; 11-13-2010, 08:05 PM."To go bravely forward is to invite a miracle."
"Worry is the darkroom where negatives are formed." -
She is giving it as I can no longer drive it so you can have it. Signed over title. No "passing down" paperwork. Vehicle worth around 10k.Comment
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