What happens to the property I turn over to the trustee?
June 28, 2022
By Diane Drain Attorney & Retired Law Professor
Your property is sold at a public auction, and the proceeds are divided among your creditors who have filed claims (Proof of Claim) in your bankruptcy. This auction is open to you, your family, and your friends. These funds will also be used to cover the costs of administering your estate. Your case’s Trustee will be liable for paying his or her attorney or other professional.
About the Author: Diane Drain
Diane is a well respected Arizona bankruptcy and foreclosure attorney. As a retired law professor, she believes in offering everyone, not just her clients, advice about bankruptcy and Arizona foreclosure laws. Diane is also a mentor to hundreds of Arizona attorneys.
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