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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: An observation.. Posted by Chris on December 15, 2003 at 10:13 PM In Reply to: An observation.. posted by Ward-CA- on December 15, 2003 at 8:37 PM Thanks Ward, Yes, for the trust to file bk, it would have to be an irrevocable one. Found this definition of a business trust: A trust that is created for the purpose of making profit and that is usually characterized by some kind of commercial activity, transferable certificates of interest, existence continuing after the death of beneficiaries, limited liability, legal title in the hands of trustees, and officers having duties of management (called also common-law trust, Massachusetts trust) Note: A trust that qualifies as a business trust is eligible for bankruptcy protection under chapter 13 of the Bankruptcy Code. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Thanks Ward, : Yes, for the trust to file bk, it would have to be an : irrevocable one. : Found this definition of a business trust: : A trust that is created for the purpose : of making profit and that is usually characterized by : some kind of commercial activity, transferable certificates : of interest, existence continuing after the death of : beneficiaries, limited liability, legal title in the hands : of trustees, and officers having duties of management : (called also common-law trust, Massachusetts trust) : Note: A trust that qualifies as a business trust is eligible : for bankruptcy protection under chapter 13 of the Bankruptcy : Code. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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