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Form #767

US Bankrupty Court Abandoned Property Report

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Abandoned Property Report - Free Legal Form

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ABANDONED PROPERTY REPORT

 

UNITED STATES BANKRUPTCY COURT

FOR THE __________ DISTRICT OF __________

 

It appears that all of the following property, in which the estate of the bankrupt has an interest, is either encumbered by liens in excess of its fair market value or is of such small value that the likely sale price would not be sufficient to defray the expense of appraisal and sale, or is otherwise of no economic value to creditors:

 

                                  Description                                                                  Value

 

1.____________________________________________________     $__________

2. ___________________________________________________      $__________

3. ___________________________________________________      $__________

 

If there are objections to the abandonment, they should be filed with the trustee within __________ days from the receipt of this notice, which has been sent by the trustee to the debtor and all lien holders.

 

Wherefore, the trustee requests an order approving the abandonment as burdensome and of no economic value to the estate of the bankrupt.

 

______________________________                                 ____________________

Signature and Title                                                                             Date

 

_________________________________

Address

 



 
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Terms Of Use

Submissions to this site, including any legal or business forms, posts, responses to questions or other communications by contributors are not intended as and should not be construed as legal advice. You are strongly encouraged to consult competent legal council before engaging in any action based upon content contained on this site.

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These forms are provided to assist business owners and others in understanding important points to consider in different transactions. They are offered with the understanding that no legal advice, accounting, or other professional service is being offered by these documents or on this website. Laws vary in the different states. Agreements acceptable in one state may not be enforced the same way under the laws of another state. Also, agreements should relate specifically to the particular facts of each situation. Therefore, it is important to consult legal counsel whenever utilizing these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com is not engaged in recommending or referring members on the site or making claims about the competence, character or qualifications of its participating members.
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Comments

submitted 10/16/2008
by DavidMarshall  

"When a bankruptcy is declared, all the debtor’s property falls under the control of the trustee who acts under the supervision of the bakruptcy court. But if there is no equity in a piece of land or some other property because there are loans secured on it, or the property would be difficult to administer, the trustee can abandon it. That means the trustee applies to the court for it to be returned to the person entitled to possession of it. That could be to the debtor or the secured creditor who has already taken possession."
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Keywords: Abandoned Property, legal forms, bankruptcy

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