Texas | Bankruptcy
11/02/09, 1:58 pm
Legal Question
In Texas, are stock exempt in chapter 7 bankruptcy?
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Read More Answered By: Keith Engelke |
Depends on what you mean by stock. If you go by the Texas exemptions, certain numbers of farm animals are exempt property under section 42.002 of the Property Code: (10) the following animals and forage on hand for their consumption: (A) two horses, mules, or donkeys and a saddle, blanket, and bridle for each; (B) 12 head of cattle; (C) 60 head of other types of livestock; and (D) 120 fowl; and (11) household pets.
If you are talking about securities, I don't think so , unless they are held in an IRA or retirement account. |
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Read More Answered By: William D. Weber |
No, if you mean stock in a corporation or other artificial entity. However, with a competent attorney that knows how to plan the case, you may be able to keep the stock.
William D. Weber WEBER LAW FIRM 6666 Harwin Drive, Suite 220 Houston, TX 77036-2251 -------------------- (713) 789-3300 • Telephone (713) 893-6004 • Fax (832) 723-7970 • Mobile wdw@WeberLaw.com • E-Mail WeberLaw.com • Internet |
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