Divisible property-bankruptcy, Financial Accounting

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DIVISIBLE PROPERTY

The property of the bankrupt divisible among creditors includes:

Property belonging to the bankrupt at the commencement of the bankruptcy;
Property acquired by him before his discharge ("after - acquired property"); and
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.

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