{"id":319,"date":"2013-03-29T21:50:44","date_gmt":"2013-03-29T21:50:44","guid":{"rendered":"http:\/\/bankruptcyattorneystl.com\/?p=319"},"modified":"2013-03-29T21:50:44","modified_gmt":"2013-03-29T21:50:44","slug":"transferring-property-prior-to-filing","status":"publish","type":"post","link":"http:\/\/bankruptcyattorneystl.com\/?p=319","title":{"rendered":"Transferring Property Prior to Filing"},"content":{"rendered":"<p>Certain types of activities that you do prior to filing can render you ineligible to file bankruptcy for a period of time.\u00a0 If you sell or gift any type of property the 2 years before filing for bankruptcy, it is very heavily scrutinized in bankruptcy.\u00a0 The reason these transfers are so scrutinized is due the amount of people who have attempted to cheat the bankruptcy system in the past. \u00a0Essentially, the issue with transferring property that arose (and is still an issue) was that many people are tempted to &#8220;gift&#8221; a large asset to a friend immediately before filing to avoid it from being taken by the trustee through the bankruptcy to sell it for the benefit of the creditors.\u00a0\u00a0 These transactions usually take the form of a person selling a house or a car for a very small amount, such as $5.00, knowing that once the bankruptcy is over, \u00a0the family member or friend will simply give the property back.\u00a0 Any transfer or sale of property for substantially less than what the property is worth are often considered fraudulent by the bankruptcy court, and can lead to the dismissal of your case. \u00a0Even if you transferred the property in good faith, perhaps at a time when finances were in order, the trustee can still order that the person to whom you transferred the property give it back to sell to benefit creditors.\u00a0 While this may seem unfair, it is still something that the trustee has the power to do, as set forth by the bankruptcy code.<\/p>\n<p>After meeting with an attorney and finding out about this portion of the bankruptcy code, you may be tempted to undo the transfer by taking the property back; however, the trustee can see title transfers by a simple, routine check.\u00a0 If the trustee sees that you are trying to right this wrong, they can still assume that you are being deceitful.\u00a0 If you have transferred property in the 2 years leading up to filing, it is a good option to wait until the full 2 year period is up before you file a case.\u00a0\u00a0 This way, if you are asking if you have transferred property in the past two years (which is required by the &#8220;statement of financial affairs&#8221;), you can honestly answer &#8220;No&#8221;. \u00a0If you decide that you do not want to wait to file until the 2 year period is up, it is essential that you discuss with your attorney the consequences of this decision.<\/p>\n<p>If you have questions about property that you have transferred and how it could affect your bankruptcy, please contact a <a href=\"http:\/\/www.lickerlawfirm.com \">St. Louis Bankruptcy Attorney<\/a> today!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Certain types of activities that you do prior to filing can render you ineligible to file bankruptcy for a period of time.\u00a0 If you sell or gift any type of property the 2 years before filing for bankruptcy, it is &hellip; <a class=\"more-link\" href=\"http:\/\/bankruptcyattorneystl.com\/?p=319\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,3,53,8,49,1],"tags":[],"class_list":["post-319","post","type-post","status-publish","format-standard","hentry","category-bankruptcy-filing","category-bankruptcy-general","category-chapter-13-bankruptcy","category-chapter-7-bankruptcy","category-protected-assets","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Transferring Property Prior to Filing  - St. Louis Bankruptcy Attorneys<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/bankruptcyattorneystl.com\/?p=319\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"St. Louis Bankruptcy Attorney\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\\\/\\\/bankruptcyattorneystl.com\\\/?p=319#article\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/bankruptcyattorneystl.com\\\/?p=319\"},\"author\":{\"name\":\"St. Louis Bankruptcy Attorney\",\"@id\":\"http:\\\/\\\/bankruptcyattorneystl.com\\\/#\\\/schema\\\/person\\\/ffac9d6264cfaf62f3228d9b170a410b\"},\"headline\":\"Transferring Property Prior to Filing\",\"datePublished\":\"2013-03-29T21:50:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\\\/\\\/bankruptcyattorneystl.com\\\/?p=319\"},\"wordCount\":439,\"articleSection\":[\"Bankruptcy filing\",\"Bankruptcy General\",\"Chapter 13 Bankruptcy\",\"Chapter 7 Bankruptcy\",\"Protected Assets\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/bankruptcyattorneystl.com\\\/?p=319\",\"url\":\"http:\\\/\\\/bankruptcyattorneystl.com\\\/?p=319\",\"name\":\"Transferring Property Prior to Filing - St. Louis Bankruptcy Attorneys\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/bankruptcyattorneystl.com\\\/#website\"},\"datePublished\":\"2013-03-29T21:50:44+00:00\",\"author\":{\"@id\":\"http:\\\/\\\/bankruptcyattorneystl.com\\\/#\\\/schema\\\/person\\\/ffac9d6264cfaf62f3228d9b170a410b\"},\"breadcrumb\":{\"@id\":\"http:\\\/\\\/bankruptcyattorneystl.com\\\/?p=319#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"http:\\\/\\\/bankruptcyattorneystl.com\\\/?p=319\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"http:\\\/\\\/bankruptcyattorneystl.com\\\/?p=319#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"http:\\\/\\\/bankruptcyattorneystl.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Transferring Property Prior to Filing\"}]},{\"@type\":\"WebSite\",\"@id\":\"http:\\\/\\\/bankruptcyattorneystl.com\\\/#website\",\"url\":\"http:\\\/\\\/bankruptcyattorneystl.com\\\/\",\"name\":\"St. Louis Bankruptcy Attorneys\",\"description\":\"by A &amp; 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