Legal Question in Bankruptcy in Massachusetts

I am currently a debtor in a chapter 7 bankruptcy case. The trustee in the case has agreed to give up his interest in my condo and has filed a motion of abandonment. He required that we serve the notice to all my creditors.

My question is how long do the creditors have to object?

If none do, is the propert automatically considered abandonned?


Asked on 6/11/11, 5:18 am

1 Answer from Attorneys
Stephanie Burnham Burnham & Associates, Attorneys at Law, PLLC

Unless you have unexempt equity in your condo, you will not have to worry about your creditors objecting. This is because the Bnakruptcy Trustee's job is to determine whether or not there are assets available to pay your creditors. Once the Bankruptcy Trustee has determined that the condo will not provide value to pay your creditors, the creditors will not usually pursue it further.

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Answered on 6/16/11, 11:19 am


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