My parents are recently deceased. They had 160 acres of land that was willed to their four sons, each receiving 40 acres. One son is having financial difficulties and might be declaring bankruptcy. Is there anything he can do that will help preserve the entire 160 acre block without 40 acres going to auction?
Answered on: 4/13/10, 1:09 pm by Blake Lipman
He may be able to renounce his devise. I am not sure how his renunciation will be treated in bankruptcy, but the probate court will honor is renunciation and the transfer will go to the remaining sibs. For more info., please contact my office at (248)851-3171.
Did you find this answer helpful?
0 Users found this answer helpful.
0 Attorneys agree with this answer.
Law Office of Blake P. Lipman 31275 Northwestern Hwy. Suite 140 Farmington Hills, MI 48334► Other answers from this attorney