Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

debtor's property

Read a random definition: Surgeon General

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

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
warning my discord pfp is fun lol and also i haven't changed my username since high school because i didn't feel like it 😭
10:18
LMAO yeah you have a fun pfp
BulbasaurNoLikeCardio
10:20
Yes the septum, so they don't feel weird or mess with breathing/running at all even when flipped in? At limit
snow
10:23
its been a quiet morning so far
LSDFan
10:23
i have no hope for today
JumpySubsequentDolphin
10:24
idk about septums, i only have nostril pierced @bulb
triplethread
10:24
snow i think we will prob hear back from kent the week of dec 1st
10:24
Past 10am and ....nothing
JumpySubsequentDolphin
10:24
I think UCLA a wave today no?
babycat
10:24
🚑
What time have UCLA waves been at
Dkk
10:24
It's only 7:24 AM. We on the west coast control the time.
thismanatemyson
10:25
UCLA please save me
triplethread
10:25
snow if i dont get invited for an honors college interview i might freak
Dkk
10:25
11:22:24 AM PST, wave will come.
triplethread
10:26
dkk are u a boy or a girl
Dkk
10:26
Wizard 101 told me I was a boy wizard.
triplethread
10:26
ok
BulbasaurNoLikeCardio
10:26
I am thinking it will be slower/quitter until after thanksgiving
snow
10:27
thread im like 90% sure im getting an R, but ive come to peace that this might be my unreasonable R for the cycle
triplethread
10:27
but snow we have the same stats. you'll be fine. i promise. if im this confident you should be too
Dkk
10:27
Only tiktok I will share cus I stay off that site.
I am sorry if you like it, but TikTok is fucking awful
LSDFan
10:28
tiktok is great
triplethread
10:28
i lub tik tok and reddit and instantgram
Dkk
10:29
Nah, lol I hate it @texas. I remember when it was music.ly too and you used to have music.ly cringe compilations.
babycat
10:29
I do not have tiktok either because it makes my brain unhappy
10:29
how come i didnt get fordham AGAIN
Yeah, shit is awful. I have friends who spend hours a day on it
LSD+ is ad-free, with DMs, discounts, case briefs & more.