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How strict is the bankruptcy court on transferring 2 years before filing?

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    How strict is the bankruptcy court on transferring 2 years before filing?

    Hi, Please help, a couple of weeks before my husband died from cancer, he gave a family member his truck. It was a 16 year old truck that had not been driven for almost a year. The family member put in about $700 into it to get it running plus needed 4 new tires.
    In total it was 23 months and 1 weeks from filing bankruptcy that my husband transferred the truck, just 3 weeks short of the 2 year transfer property rule. I am really sick about this. With my husband dying, I forgot about the truck. Also my husband did not want me to have the burden of fixing the truck up or trying to sell as it. How strict is the court, will 3 weeks short of 2 years be ok. Please help. I do not want this truck taken back by the bankruptcy court. The only other recourse I have is walking away from the trustee meeting that is in 1 week and have judge dismiss the bankruptcy.

    #2
    I don't think it's an issue. They're usually worried about "insider" transfers within a year. They are looking for "real"money and not a broken down truck.

    Generally, the trustee can undue a transfer that was done within 2 years of filing "if" it was done to hinder, delay or defraud creditors. I don't think your creditors wanted a 16-year old broken truck. In fact, the Trustee doesn't want it either!

    I would not worry about this at all!



    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    I am not an attorney. Any advice provided is not legal advice.

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