Get Schedule A/B: Property from the US Bankruptcy Court website.
Save the form on your computer.
In the top box put your name and your spouse’s if you are both filing.
Skip the box that asks for the District
Put “Mass.” in the box that asks for your state.
The clerk will give you the Case No. when you file your Bankruptcy Petition.
Most of the forms are easy to fill out. Some parts are not so easy to understand. It is important to understand the question before you answer it.
List the real property you own. Real property is:
- Any houses you own,
- Vacation houses,
- Any land you own,
- Deeded timeshares,
- Anything you own, even if it is not a house, if you can live in it. For example: Cabins, mobile homes, and campers. But only list these things if you live in them. Do not list a camper if you do not live in it.
Where the form says “Describe the Nature of your ownership interest,” look at the deed for that property. Your deed will tell you if you have “a life estate”, “fee simple ownership,” “tenants by the entirety” or “joint tenancy.”
For the “current value of the entire property” put what the property would sell for. The best way to get this amount is to ask a realtor. But you can get an estimate by looking up your property on www.zillow.com or www.trulia.com.
If you are renting to own your home, talk to a lawyer.
Part 2 Vehicles
Write the resale value for each vehicle in the last column.
- List every vehicle that is titled in your name.
- List it even if someone else is using it.
- List it even if it does not run or has been junked.
- If you do not know if a vehicle is still titled in your name, use the Massachusetts Registry of Motor Vehicles online title search.
- List every vehicle that is in your possession.
- List it even if it is not in your name. For example, list your child’s car even if she is away at college and keeps her car at your house.
- If you make the payments on a vehicle, but it is not in your name or possession, do NOT list it.
If you own the vehicle with someone who is not filing bankruptcy with you, you probably only own half or less of the vehicle. For example, if you own a vehicle and the title is in your name and your mother’s name, you only own half of the vehicle. Only list half of the vehicle’s value on the line for “current value of the portion you own”. Check the box of who owns the vehicle to let the court know who owns the car.
Part 3 Describe your Personal Property and Household Items
If you do not know if you should list something, list it. It is probably personal property. If you could sell anything and get more than $500 for it, put the amount you could sell it for next to that item.
Estimate how much each item is worth. Do not over-estimate the value of your personal property. Most personal property is not worth much if you had to sell it. If you cannot sell it for anything, put “$0.00” in the Value column. If you do not know how much something is worth, ask a pawn shop or a professional appraiser. Do not leave any item blank.
Part 4 Financial Property
Put information about any money you have.
If you have a bank account in a child’s name, only list it if you are an owner of the account. If you are a trustee, and the account is only in the child’s name, do not list it. If you are not sure, ask your bank.
Parts 5 & 6 Business Property
Skip parts 5 & 6 if you do not have own business property.
If you have any property that you did not list, put it here.
At the bottom of each section:
- Write the total value of your property.
- On the last page, add the values of all the sections of Schedule A/B and write this number at the bottom.