Legal Question in Bankruptcy in Arkansas
Bankruptcy Claims against an Estate
In the state of Arkansas, is a person who inherits property (home) entitled to bankruptcy protection if debt claims are made against that inherited property?
Asked on 11/16/06, 9:40 am
1 Answer from Attorneys
Harvey Harris
Harris Law Firm
Re: Bankruptcy Claims against an Estate
Who is in bankruptcy? There are certain protections for people's homestead, when they file bankruptcy. It depends on the size and value of the property.
If this is an estate, it depends on several things. First, is the person inheriting the spouse? Are there other assets? What does the will say?
I'm unsure about what you meant by bankruptcy, so I may not have answered your question. If you'd like more information, you're welcome to send me more details.
Answered on 11/16/06, 10:37 am
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