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They Can't Touch the Corvette if I Sell it to my Sister for a Dollar!

What is this preoccupation with "touching"?

And who is "they"?

Here's the deal: you can't make a gift of the Corvette to your sister just prior to filing your Chapter 7 bankruptcy. Don't exercise your generous spirit before you file a Chapter 7 bankruptcy in Arizona!

Well, you can, but why don't you just shove your hand down the garbage disposal in the kitchen? Same kind of result (note: do not shove your hand down the garbage disposal at any time. This is a literary device. It is not legal advice, or advice of any kind.)!

The bankruptcy adage is that you have to be fair before you are generous. An Arizona bankruptcy lawyer gets to talk to a lot of people who want to be generous.

And a valuable asset being gifted to an insider for inadequate consideration is called a fraudulent transfer.

And the Chapter 7 Bankruptcy Trustee in your Chapter 7 Bankruptcy case in Arizona can use the FOUR YEAR look back statute in Arizona State Law to force a return of the car to the bankruptcy estate by the simple expedient of suing your sister.

And your bankruptcy discharge, which was the reason you were filing your bankruptcy in the first place?

Oh. That.

Yeah.

Oh, well.

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Joseph C. McDaniel Board Certified Arizona Bankruptcy Lawyer

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