STANDARD NO. 413

PROBLEM:

What corrective measures are required when the record shows evidence of a filing under Chapters 7, 11 or 13 of the Bankruptcy Code as amended and the case has been closed without a conveyance by the debtor or a trustee?

RECOMMENDATION:

A. If the subject property was listed in the Schedules of Assets and Liabilities but was not administered, the property is deemed abandoned and no further action is required.

B. If the subject property was not listed in the Schedules of Assets and Liabilities, the case should be reopened and the property abandoned or otherwise administered.

DISCUSSION:

A. All cases are governed by Bankruptcy Code Sec. 554(c) and by Rule 5010 of the Bankruptcy Rules of Procedure. This Rule provides for an automatic abandonment and also establishes a mechanism to obtain Court action.

B. For unlisted property see Sections 350 (b) and 554. Corrective measures are provided in Rule 5010 of the Rules of Bankruptcy Procedure.

First adopted June 19, 1975; amended December 7, 1983 and February 13, 2007. Formerly Title Standard No. 58.

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