Legal Question in Bankruptcy in Florida

Sale of boat prior to filing

If I am forced to sell my boat prior to filing to pay ligitimate bills such as mortgage, do I need to wait before filing chapter 7...or...can a friend finance my boat and place a lien on it so it cannot be taken and if so do I need to wait before filing? My boat is paid for but is only valued at about $4,000-$5000 retail. When determining value for cars and boats do they use retail or trade-in values and do they take into consideration the condition of vehicles?


Asked on 9/19/01, 10:52 pm

1 Answer from Attorneys
Anthony Comparetto Comparetto Law Firm

Re: Sale of boat prior to filing

Be very careful. A trustee can consider the lien fraudulent if you sell it to a friend. You need to speak directly with an attorney to have a pre-bankruptcy filing plan.

A.J. Comparetto, 727-328-7900

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Answered on 11/05/01, 9:13 pm


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