Legal Definitions - estate's property

ESTATE'S PROPERTY

Estate's property refers to the tangible and intangible property interests of a debtor that come under the jurisdiction of the bankruptcy court. These interests include both legal and equitable interests that were owned or held by the debtor at the time of filing the bankruptcy petition.

• A person who files for bankruptcy may have estate's property that includes their house, car, bank accounts, investments, and other assets.
• If a business files for bankruptcy, the estate's property may include its inventory, equipment, patents, trademarks, and other intellectual property.

These examples illustrate that estate's property includes all the assets that belong to the debtor and are subject to the bankruptcy court's jurisdiction. The court may use these assets to pay off the debtor's creditors and settle their debts.