property of the estate

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.

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