Bankruptcy Forms: Filing Bankruptcy Chapter 7 Bankruptcy Software Chapter 13

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TITLE 11–BANKRUPTCY

CHAPTER 5–CREDITORS, THE DEBTOR, AND THE ESTATE

Sub Chapter III – The Estate

Sec. 554. Abandonment of property of the estate

    (a) After notice and a hearing, the trustee may abandon any property 
of the estate that is burdensome to the estate or that is of 
inconsequential value and benefit to the estate.
    (b) On request of a party in interest and after notice and a 
hearing, the court may order the trustee to abandon any property of the 
estate that is burdensome to the estate or that is of inconsequential 
value and benefit to the estate.
    (c) Unless the court orders otherwise, any property scheduled under 
section 521(1) of this title not otherwise administered at the time of 
the closing of a case is abandoned to the debtor and administered for 
purposes of section 350 of this title.
    (d) Unless the court orders otherwise, property of the estate that 
is not abandoned under this section and that is not administered in the 
case remains property of the estate.

(Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2603; Pub. L. 98-353, title III, 
Sec. 468, July 10, 1984, 98 Stat. 380; Pub. L. 99-554, title II, 
Sec. 283(p), Oct. 27, 1986, 100 Stat. 3118.)


                      Historical and Revision Notes

                         legislative statements

    Section 554(b) is new and permits a party in interest to request the 
court to order the trustee to abandon property of the estate that is 
burdensome to the estate or that is of inconsequential value to the 
estate.


                        senate report no. 95-989

    Under this section the court may authorize the trustee to abandon 
any property of the estate that is burdensome to the estate or that is 
of inconsequential value to the estate. Abandonment may be to any party 
with a possessory interest in the property abandoned. In order to aid 
administration of the case, subsection (b) deems the court to have 
authorized abandonment of any property that is scheduled under section 
521(1) and that is not administered before the case is closed. That 
property is deemed abandoned to the debtor. Subsection (c) specifies 
that if property is neither abandoned nor administered it remains 
property of the estate.


                               Amendments

    1986--Subsec. (c). Pub. L. 99-554 substituted ``521(1)'' for 
``521(a)(1)''.
    1984--Subsecs. (a), (b). Pub. L. 98-353, Sec. 468(a), inserted ``and 
benefit'' after ``value''.
    Subsec. (c). Pub. L. 98-353, Sec. 468(b), amended subsec. (c) 
generally. Prior to amendment, subsec. (c) read as follows: ``Unless the 
court orders otherwise, any property that is scheduled under section 
521(1) of this title and that is not administered before a case is 
closed under section 350 of this title is deemed abandoned.''
    Subsec. (d). Pub. L. 98-353, Sec. 468(c), struck out ``section (a) 
or (b) of'' after ``not abandoned under''.


                    Effective Date of 1986 Amendment

    Amendment by Pub. L. 99-554 effective 30 days after Oct. 27, 1986, 
see section 302(a) of Pub. L. 99-554, set out as a note under section 
581 of Title 28, Judiciary and Judicial Procedure.


                    Effective Date of 1984 Amendment

    Amendment by Pub. L. 98-353 effective with respect to cases filed 90 
days after July 10, 1984, see section 552(a) of Pub. L. 98-353, set out 
as a note under section 101 of this title.

                  Section Referred to in Other Sections

    This section is referred to in sections 557, 722 of this title.



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Legal Resource Center: United States Code TITLE 11 Filing Bankruptcy Forms Software