Bankruptcy estate

Definition of Bankruptcy estate

Bankruptcy estate are all the assets (estate) of a debtor (person declaring bankruptcy) in bankruptcy that may be used to satisfy (usually to a some degree) the creditors. The Bankruptcy estate is the sum of all the debtor’s legal and equitable interests in property (which has not been fully realized, such as pending stock options, litigation rights, pending inheritances or legal and tax benefits) as set out in the national bankruptcy laws. In the United States, the assets of the bankruptcy state were those accrued to the bankrupt within 180 days of filing.

There are a number assets excepted from the Bankruptcy estate, depending on the country or state. This include, in the United States, spendthrift trust, assets in retirement plans and homestead property.

See Also

Asset Protection

Bankruptcy
Bankruptcy Portal in the Legal Encyclopedia

Bankruptcy Claim

Bankruptcy Code

Bankruptcy Estate

Bankruptcy Plan

Bankruptcy Protection

Bankruptcy Rules

Bankrupt

Discharge in Bankruptcy

Involuntary Bankruptcy

Joint Bankruptcy

Trustee in Bankruptcy

Chapter 7

Chapter 9

Chapter 11

Chapter 12

Chapter 13

Bankruptcy Proceedings
Bankruptcy notice

Spendthrift trust

Retirement plans

Homestead property