Is My Oil Or Gas Royalty Interest Protected In Bankruptcy? CA Bankruptcy Attorney Explains

http://www.goodbye2debt.com/ Law Offices of Nicholas Gebelt 15150 Hornell St Whittier, CA 90604 (562) 777-9159 California’s exemption tables don’t have a category specific to oil, gas, or mineral rights, so you’d need to protect that interest using the wildcard exemption or another available category. If you can’t exempt it, a Chapter 7 trustee can take it; in a Chapter 13 or Chapter 11, its liquidation value still factors into the minimum you must repay creditors over your plan. In practice, a small royalty interest — say, a few dollars a year from an inherited stake — usually isn’t worth a trustee’s time to pursue. Substantial oil and gas revenue is a different story, particularly if it’s held through a corporation, since a trustee can sell the business itself to someone who wants the income stream. If your oil and gas holdings are significant, it may be worth discussing whether a Chapter 11 makes more sense than Chapter 13, given Chapter 13’s debt ceilings. 📢 Disclaimer: This video is intended for educational and informational purposes only and does not constitute legal advice. Watching this content does not create an attorney-client relationship. For legal guidance specific to your situation, please consult a qualified attorney. We comply with YouTube’s content policies and this video is not meant to promote any unlawful practices. For More Information About Bankruptcy, Please Visit: https://en.wikipedia.org/wiki/Bankrup... For More Videos, Subscribe Our Channel:    / @lawofficesofnicholasgebelt6129