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Monthly Archives: May 2010

What Happens To My Property When I File For Bankruptcy?

Almost all of us own property. When the term “property” is mentioned, most people think of land or a house. However, property includes any item or thing that a person may own or possess. So, land or a house are property, but so is a car, a couch, a computer, a wedding ring, a book collection, or a set of tools. In addition, intangible things (i.e. things that you cannot hold in your hands) can also be property. For example, if you have a checking account, that checking account is property. If you are a part owner of a business, your interest in the business is also property, and so on.

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Posted in Arizona Personal Bankruptcy Information, Mortgages and Foreclosure Prevention in Arizona | Leave a comment