Legal Question in Bankruptcy in Kentucky

Bankruptcy/Family Cemetary

My mother must file bankruptcy in Ohio, her primary residence. She has one asset in KY. The property is 4 acres and has a small family cemetary on it. Can she deed over just the cemetary land to a family member with an easement? If so, what type of forms should be requested?


Asked on 2/05/09, 8:04 pm

1 Answer from Attorneys
Gregory Napier Troutman & Napier, PLLC

Re: Bankruptcy/Family Cemetary

Depending on the value of the land, transferring it on the eve of a bankruptcy for less than fair market value could be seen as a fraudulent conveyance. If the value of the cemetary is small enough, she may be able to use an exemption to retain the cemetary. So, a key piece of information, the value of the cemetary, is missing.

There are strategies that could be employed to preserve the family cemetary, but they involve time and an analysis of the whole financial picture. It would be worthwhile for you mother to go to an bankruptcy attorney that will take time to go over everything and develop a comprehensive strategy rather than a high volume bankruptcy shop.

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Answered on 2/06/09, 9:17 am


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