I want to sell my mineral rights now to live on but I my have to file chapter 7 in the future. how much time needs to pass in MT

Asked about 1 year ago - Great Falls, MT

I own a struggling small business in montana that may or may not make it much longer and the sale of these mineral right will help increase the odds of survival.

Attorney answers (3)

  1. Solomon Neuhardt

    Contributor Level 12

    2

    Lawyers agree

    Answered . Call phil oliver in billings

    Sol Neuhardt. One of the best personal injury lawyers in Montana. Recovered millions of dollars for his clients.... more
  2. Matthew Scott Berkus

    Contributor Level 20

    1

    Lawyer agrees

    Answered . How much time for what? If you sell your property, you convert it to cash. The issue is whether MT has an exemptions for it. in my brief internet search, MT has no wildcard exemption. So, if you sell your mineral rights, the cash from it is at risk.

    You may be able to do some pre-bankruptcy planning, but if your goal is to sell, file bankruptcy, and live off the cash, that does not seem possible.

  3. Christine B. Adams

    Pro

    Contributor Level 20

    1

    Lawyer agrees

    Answered . You really need to discuss this with a local bankruptcy attorney before you do anything.

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