Legal Question in Bankruptcy in New York

Statute of Limitations

I filed bankruptcy 3/28/o2,discharged 6/23/o3 still not closed. Have 2 parcels vacant land, free & clear, landlocked by parcel that I owned but it was auctioned off today due to gliche in this bankruptcy. How long does trustee have to ''take property'', does he have to do it before discharge or closing or can it take place after everything is done?


Asked on 9/30/03, 12:48 pm

1 Answer from Attorneys
Andrew Nitzberg Andrew Nitzberg & Associates

Re: Statute of Limitations

You are corect. While the trustee has great latitude in the timing of disposition of the debtor's assets, it is very rare to have a sale of property occur after the 'discharge' is granted.

I would like to see the documents on this before I make an answer. My fax number is (718) 729-2029 and mailing address: 41-20 Forty Six St, Suite 3F, Sunnyside, NY 11104.

Rest assured, there is no charge for this. I just want to see how this was done.

Typically, the trustee must make a report before the discharge. In addition, the the 'bankruptcy estate' reverts to the debtor on discharge.

An error of this sort can rsult in you regaining control (right to sell the property) at the time of the discharge. I have a similar case on appeal in the 2nd circuit.

The foreclosure may not have been 'legal'.

Andrew

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Answered on 9/30/03, 2:08 pm


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