What is the effect of a bankruptcy filing on a debtor's property?
California, United States of America
The following excerpt is from Rabobank, N.A. v. Almquist, C079605 (Cal. App. 2019):
"[T]he filing of a bankruptcy petition creates the bankruptcy estate, which includes 'all legal or equitable interests of the debtor in property as of the commencement of the case.' [Citation.] The bankruptcy filing acts as an automatic stay of 'any act to obtain possession of property of the estate or of property from the estate or to exercise control over property of the estate. . . .' [Citation.]" (Eden Place, LLC v. Perl (9th Cir. 2016) 811 F.3d 1120, 1127 (In re Perl).)
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