It’s a possibility that the bankruptcy court technically can take over your shares of a corporation or your percentage ownership of an LLC. The question is really how much property is owned by that corporation and what the value of that corporation is and the percentage of ownership that you have. Whatever that value is, is technically your personal property and you have to account for that just like the rest of your personal property.
I Need To Sell Jointly Owned Property
Joint ownership of property can be a great arrangement when both parties agree on how to manage and use the property. However, disagreements can arise over issues such as maintenance, use of the property, or whether to sell it. When co-owners are no longer on the same...