Can I claim mineral rights valued at $21,000 under the wildcard exemption in Chapter 7 bankruptcy?
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Can I claim mineral rights valued at $21,000 under the wildcard exemption in Chapter 7 bankruptcy?
I have received offers from 2 different brokers for the same amount. Some of the mineral rights produce a royalty check of $400 to $500 a month which I need to be able to survive.
Asked on March 7, 2013 under Bankruptcy Law, California
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Based upon what you have written about it is best that you claim mineral rights under the wild card exemption in your Chapter 7 bankruptcy than not. For a better understanding as to whether or not you will get such an exemption, you should consult with a bankruptcy attorney on the subject.
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