Even more on bankruptcy.
What is a bankruptcy estate?
The "bankruptcy estate" is a term that comes up a lot in bankruptcy, because it is the most essential part of any bankruptcy case. It is all the property rights, "the stuff" that the court can control during the bankruptcy case. When the petitions field (the papers that start the bankruptcy case) the "estate" is created. like when someone dies, what they leave behind is the estate, but here no one is dead.
The estate is everything the debtor has a right to, whether he has control o it when he files or can get control over it later, so it is pretty broad as to what it contains. There are lots of disputes over what is and what is not part of the estate- is a lawsuit that is not filed, or even unknown at the time of filing, part of the estate? If your uncle died and left you money but you haven't received it yet, is that part of the estate? That's stuff bankruptcy judges decide. Big problems com…
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