Legal Question in Bankruptcy in California
if i inherit real estate will a 2 year bankruptcy take it
3 Answers from Attorneys
http://www.absolutebankruptcy.org The question doesn't seem to make sense.
If you filed for Chapter 7 bankruptcy and the person that died died after 6 months from filing, you are ok.
If he died say 3 months after filing, but you just got the property, then technically, that's part of the estate. However, the trustee probably forgot about you about 1.5 years ago!
If a bankruptcy debtor acquires inheritance-- or acquires the RIGHT to inherit (e.g. the person the bankruptcy filer inherits from dies) before the bankruptcy filing or within 180 days AFTER the bankruptcy filing date, then that inherited asset is part of the bankruptcy estate (and the bankruptcy debtor would want to exempt it); it must be reported to the bankruptcy trustee.
See 11 USC 541(a)(5); there's also a 180-day application to other certain limited assets.
This answer (by San Diego bankruptcy attorney, Asaph Abrams) doesn�t address all facts & implications of the question; it�s general info, not legal advice to be relied upon and exceptions may apply. It creates no attorney-client relationship; it may be pertinent only to CA and/or its Southern District Bankruptcy Court in San Diego. It�s independent of other answers. It may be time sensitive, as in past the �Use by� date: laws and case law change. Hire a bankruptcy lawyer before acting or refraining from bankruptcy or other legal action.