Can I cut my timber for money if my land is under bankruptcy ?
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Can I cut my timber for money if my land is under bankruptcy ?
Asked on February 14, 2015 under Bankruptcy Law, Alabama
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
No, not without bankruptcy court and/or trustee approval: if the land is an asset included in the bankruptcy, you cannot take any value out of the land (i.e. you can't cut and sell the timber), any more than you could take money out of a bank or brokerage account subject to the bankruptcy.
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