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Benefit of the Estate
In Motion after Motion, Chapter 7 trustees demand turnover and sale of property "for the benefit of the bankruptcy estate." The following is a good example of how Debtors give up their homes to the bankruptcy trustees, and it serves absolutely no financial benefit to anyone besides the realtors and trustees.
The following is an actual case document. Page 2 is the bankruptcy trustee's explanation of how this sale turned sour, and why he consumed 100% of the proceeds as and for his commission and compensation. Page 3 is the analysis of why the bankruptcy trustee's explanation is hogwash.
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