Legal Question in Bankruptcy in Minnesota
Childrens possesions
If a parent/parents file bankrupcy will they take the personal items the children/teenagers have bought with their own money? Ex - movies, TV, video games? Car they use to get to work and school.
Asked on 2/16/07, 5:07 pm
1 Answer from Attorneys
David Kelly-952-544-6356
Kelly Law Office
Re: Childrens possesions
Generally, no. The stuff belonging to the kids is theirs. I'd worry about the car, however, because the Trustee will go by whose name is on the title.
One more thing. If you are thinking of moving assets around and putting something in your children's name, don't. That would be fraud. Bankruptcy fraud is a felony. Don't even think about it.
Answered on 2/16/07, 6:09 pm
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