property of the estate
property of the estate
All legal and equitable interests of the debtor in property as of the petition date (SA-Bankruptcy.com)
The property that is not exempt and belongs to the bankruptcy estate. Property of the estate is usually sold by the trustee and the claims of creditors paid from the proceeds. (Bankruptcy in Brief)

SCOPE
Property of the estate includes every interest that the debtor holds at the time of the filing of the petition. This includes virtually every ownership interest, including a claim that the debtor may have against another person.
Where someone holds property of the estate that should be in the control of the trustee, the court has the power to compel that person to turn the property over to the trustee for disposition.
Where the debtor' safe deposit box holds non-exempt property of the estate, the trustee may commence an adversary proceeding to force the bank to turn over the property.
USE, SALE OR LEASE
A debtor in possession or the trustee may use, sell or lease property of the estate in the ordinary course of business. What "ordinary course of business" means is different for each case and depends upon the business of the debtor. If the debtor in possession or trustee wants to deal with property other than in the ordinary course of business, it must be done with court approval, after notice to creditors and other parties in interest. (Bernstein's Dictionary of Bankruptcy Terminology)

All legal or equitable interests of the debtor in property as of the commencement of the case. (BankruptcyAction.com)

United Glossary of Bankruptcy Terms 2012.

property of the estate
SCOPE Property of the estate includes every interest that the debtor holds at the time of the filing of the petition. This includes virtually every ownership interest, including a claim that the debtor may have against another person. TURNOVER Where someone holds property of the estate that should be in the control of the trustee, the court has the power to compel that person to turn the property over to the trustee for disposition. Where the debtor' safe deposit box holds non-exempt property of the estate, the trustee may commence an adversary proceeding to force the bank to turn over the property. USE, SALE OR LEASE A debtor in possession or the trustee may use, sell or lease property of the estate in the ordinary course of business. What "ordinary course of business" means is different for each case and depends upon the business of the debtor. If the debtor in possession or trustee wants to deal with property other than in the ordinary course of business, it must be done with court approval, after notice to creditors and other parties in interest.

US Bankruptcy 2012.


Glossary of Bankruptcy.

Look at other dictionaries:

  • guardian of the estate — Someone appointed by a court to care for the property and finances of a minor child or an incapacitated adult. A guardian of the estate may also be called a property guardian, financial guardian, or conservator of the estate. Compare: guardian of …   Law dictionary

  • The Lord of the Rings Strategy Battle Game — Players 2+ Setup time < 10 minutes Playing time ≈1 hour per 500 points of miniatures (approx.) Random chance Medium High …   Wikipedia

  • The Adventure of the Musgrave Ritual — by Arthur Conan Doyle Released 1893 Series The Memoirs of Sherlock Holmes Client(s) Reginald Musgrave Set in 1879, according to William S. Baring Gould Villain(s) Richard Brunton and Rachel Howells …   Wikipedia

  • The Adventure of the Speckled Band — is one of the 56 short Sherlock Holmes stories written by Scottish author Sir Arthur Conan Doyle. It is the eighth of the twelve stories collected in The Adventures of Sherlock Holmes . The story was first published in Strand Magazine in February …   Wikipedia

  • The Adventure of the Copper Beeches — one of the 56 short Sherlock Holmes stories written by British author Sir Arthur Conan Doyle, is the last of the twelve collected in The Adventures of Sherlock Holmes . It was first published in Strand Magazine in June 1892.Plot SummaryViolet Hu …   Wikipedia

  • The Adventure of the Foulkes Rath — is a Sherlock Holmes murder mystery by Adrian Conan Doyle. The story was published in the 1954 collection, The Exploits of Sherlock Holmes. Dr. Watson wonders why Holmes has not been involved in the investigation of the apparent murder of Colonel …   Wikipedia

  • The Rules of the Game — Infobox Film name =The Rules of the Game caption= original movie poster director =Jean Renoir producer = writer =Jean Renoir Carl Koch starring =Nora Gregor Paulette Dubost Marcel Dalio Jean Renoir Julien Carette music =Wolfgang Amadeus Mozart… …   Wikipedia

  • The Parting of the Ways — Doctorwhobox number=170b serial name= The Parting of the Ways caption=The TARDIS crew face the Dalek Emperor and his army. show=DW type=episode doctor=Christopher Eccleston (Ninth Doctor) David Tennant (Tenth Doctor) companion=Billie Piper (Rose… …   Wikipedia

  • The House of the Seven Gables — For other uses, see The House of the Seven Gables (disambiguation). The House of the Seven Gables   …   Wikipedia

  • The Mystery of the Druids — Developer(s) …   Wikipedia

  • The Lair of the White Worm — Infobox Book | name = The Lair of the White Worm image caption = author = Bram Stoker illustrator = Pamela Colman Smith cover artist = country = Ireland language = English genre = Horror publisher = William Rider and Son Ltd release date = 1911… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”