Legal Question in Bankruptcy in California

Too complicated for this forum. See a bankruptcy lawyer in person.

It depends upon what chapter you file under, what the property is worth, what other assets you have, and a number of other factors.

I agree you should speak to a local bankruptcy attorney.

However, the answer also depends on your intentions for the business. Are your reorganizing or closing? Does the equipment have any re-sale value? There are many other factors to be considered as well.

Good luck!

It's a good question, because debtors may mistakenly assume that "tools of trade" are not considered part of the bankruptcy estate, or assets that need to be exempted. It's a matter of degree: it boils down to the assets' value. If you are a good candidate for bankruptcy, counsel would direct you how to obtain the correct type of valuation or appraisal for such 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. It creates no attorney-client relationship; it may be pertinent to CA and/or its Southern District Bankruptcy Court only, and it�s independent of other answers. Hire legal counsel before acting or refraining from bankruptcy/legal action.