Property Excluded from the Estate
Learn about property that the Bankruptcy Code expressly carves out from the estate, as well as abandonment of estate property.
In another lesson, we defined the bankruptcy estate and surveyed the types of property included in the estate. But the Bankruptcy Code carves out certain exclusions from estate property. If property qualifies for an exclusion, then it's not estate property. We'll cover some of the more noteworthy exclusions here.
I. An Individual Chapter 7 Debtor's Earnings for Postpetition Services
For starters, in chapter 7, if an individual debtor performs services postpetition, then any earnings from those...