Homestead: Utah Bankruptcy

A homestead exemption is a legal provision that allows homeowners to protect a certain amount of equity in their primary residence from being seized by creditors in the event of bankruptcy.

Can I file bankruptcy with a rental property?

Keeping Rental Property in Chapter 7 Bankruptcy Chapter 7 bankruptcy is commonly called liquidation bankruptcy.  Since the appointed bankruptcy trustee has the power to sell your non-exempt assets to pay back your debts and can sell your property to reimburse your creditors. However you are allowed to keep a certain amount of property in Chapter… Continue reading Can I file bankruptcy with a rental property?