New York  |  Bankruptcy

Legal Question

Asked on: 5/20/13, 9:05 am

Can someone advise as to the period a trustee can actually look back in the NY Eastern District? Specifically, I sold real estate slightly more than two years ago and realized profit (roughly $100,000) which was immediately distributed among my children - as an early inheritance. Since that time things have taken a severe financial downturn and my spouse and I need to file a Chapter 7. So the question involves whether the trustee can look beyond a two year period and attempt to get at the profit realized the property sale. I was told generally the reach period was 2 years but that some states may have variations on this rule. Thank you very much for any assistance that can be provided.

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