Legal Question in Bankruptcy in Minnesota
household goods, chapter 7
My wife and I have a rental business that is in our names that failed and we plan to file for a chapter 7. I believe one of the things we will need to provide the court is a list fo household goods, clothes, etc. How detailed must this be, and how accurate as far as exact value? Is it our best guess, or will someone come over and inventory the house and assess it for the courts?
2 Answers from Attorneys
Re: household goods, chapter 7
The trustee does not usually do a personal review or inventory household goods. We usually use a general reference to these mostly exempt assets. Dennis.
Re: household goods, chapter 7
I usually just say "various household goods, appliances, furnishings and effects..." I have never had a case where anyone went out and checked.
More info on my site at mn-bankruptcy.com.
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