Divisible property-bankruptcy, Financial Accounting


The property of the bankrupt divisible among creditors includes:

  1. Property belonging to the bankrupt at the commencement of the bankruptcy;
  2. Property acquired by him before his discharge ("after - acquired  property"); and
  3. In certain cases, property owned by, or in the hands of, third parties.

The 'property' of a bankrupt includes property held under a joint tenancy.

Posted Date: 12/13/2012 12:20:20 AM | Location : United States

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