It’s a possibility that the bankruptcy court technically can take over your shares of a corporation or your percentage ownership of an LLC. The question is really how much property is owned by that corporation and what the value of that corporation is and the percentage of ownership that you have. Whatever that value is, is technically your personal property and you have to account for that just like the rest of your personal property.
Real Estate Terms your Attorney Wants you to Know
Having familiarity with some basic real estate terms benefits people that want to buy or sell a home. Uncertainty about rights, duties, obligations, and contracts can lead to expensive mistakes that can be avoided. Very few people, however, want to read books like The...