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LSDefine

Simple English definitions for legal terms

debtor's property

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A quick definition of debtor's property:

Debtor's Property: This refers to the things that belong to a person who owes money (called a debtor). When someone declares bankruptcy, their debtor's property is used to pay back the money they owe. This includes things they own and sometimes things they have in their possession. However, some things are protected and cannot be taken away to pay off debts.

A more thorough explanation:

Debtor's property refers to the belongings or assets that are owned or possessed by a person who owes money to someone else. This can include property that is exempt from being taken away during bankruptcy proceedings.

For example, if someone owes a large amount of money to a creditor and files for bankruptcy, their debtor's property may include their home, car, and personal belongings. However, if the person's home is exempt from being taken away during bankruptcy, it would still be considered part of their debtor's property.

Another example could be a person who owes money on a credit card. If they default on their payments, the creditor may try to seize their debtor's property, such as their bank account or valuable possessions, to pay off the debt.

Overall, debtor's property refers to the assets that a person who owes money possesses, which can be used to pay off their debts.

debtor's petition | debt pooling

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RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
I've been UR since first/second week of Jan, no updates otherwise, is that a bad sign? At or above median LSAT and above 75th gpa.
The profile links are not working for me. anybody else?
13:18
i’m in the same boat mastermonkey but with lower stats. i hope i hear back by mid march
CheeseIsMyLoveLanguage
13:24
@mastermonkey45: Looking at some of the recent decisions in relation to when they went complete, I'd say it's a good sign. It seems many declines were sent within about 5-6 weeks of completion. Given those were applications that were SENT in January, I'd say that means you're still solidly in the running. :)
14:30
Sent an app to OSU in early december and have STILL not heard back
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