Does a debtor's home automatically become part of the debtor's estate on the commencement of a Chapter 7 proceeding?
MultiRegion, United States of America
The following excerpt is from Osborne v. Tulis, 13-4402 (2nd Cir. 2015):
A debtor's cause of action is "property" that automatically becomes part of a Chapter 7 estate on the commencement of the Chapter 7 proceeding if that cause of action had already accrued at the time of filing. See Chartschlaa v. Nationwide Mut. Ins. Co., 538 F.3d 116, 122 (2d Cir. 2008) (per curiam). Although debtors' home was not sold until January 26, 2012, New York
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