The bankruptcy estates includes all the debtor's legal and equitable interests in real,personal,tangible,and intangible property,wherever located,that exist when the petition is filed,and all interests of the debtor and debtor's spouse in community property.

Question

Quizplus · Accepted Answer

This statement is correct according to the Bankruptcy Code. The bankruptcy estate includes all of the debtor's interests in property at the time the bankruptcy petition is filed, regardless of where the property is located or how it is held. This includes both tangible and intangible assets, and any community property interests of the debtor and their spouse.

The Bankruptcy Estates Includes All the Debtor's Legal and Equitable