March 6th, 2009 by Reed Allmand 
In the Chapter 7 Bankruptcy case of Gosnick, Gregory L.; In re, the bankruptcy court ruled that a debtor could not use Michigan bankruptcy law to exempt real estate property in Alabama.
The bankruptcy court said:
“Michigan courts, for almost one hundred years, have held that its laws do not have extraterritorial application to real prop¬erty located in another state.”
This can be a difficult situation for many debtors. Because of the amount of mobility in our modern society many debtors may own property in several states outside of the state where they are filing for bankruptcy. If you are considering bankruptcy in Texas; but own real estate property in another state speak with a Dallas-Fort Worth bankruptcy attorney to find out your bankruptcy options and the specifics of the bankruptcy law.
Also be aware that Texas has residency requirements that restrict who can file for bankruptcy within this state. If you have recently moved from another state and are considering bankruptcy speak with a bankruptcy attorney today to find out where you fall within those residency requirements. The bankruptcy attorney can also advise whether you should file bankruptcy in your present state residence or previous state residence for the best advantage.
About Reed Allmand
Allmand's vision is rooted in his own financially precarious childhood in Abilene "My father always had difficulty holding a job and supporting our family, so after my parents divorced when I was 12, my sister and I got jobs to help make ends meet," he recalls. "I remember what it felt like as a child to worry that our car would be repossessed or home foreclosed on."
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