Legal Question in Bankruptcy in North Carolina
can a bankruptcy trustee seize rents from my company? I have filed personal chapter 7 and the trustee is seizing rents from tenants in my buildings that are in default. This is in North Carolina. They are not paying mortgages or insurance but are taking the little cash I had coming in. They have not formally stated they were taking possession of my company's stock.
1 Answer from Attorneys
The answer is probably yes. If you have an attorney for your bankruptcy you should ask your attorney, of course. If you filed your bankruptcy without an attorney, you should seek an attorneys advice as soon as possible because there may be a way to amend your bankruptcy paperwork.
They can probably get to the income because when you file bankruptcy all of your property becomes an asset of the bankruptcy estate. The trustee has the right to take control of the property and any income coming from the property, unless that income is otherwise exempt.
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