Bankruptcy Court Holds Real Estate Commissions Belong to the Bankruptcy Estate
In Re Anderson, the U.S. Bankruptcy Court awarded commissions from thirteen (13) transactions to the Trustee of real estate agent’s bankruptcy estate. In Anderson, debtors, Steven and Melanie Anderson were licensed real estate agents. They filed a Chapter 7 Bankruptcy petition. As of the filing of the petition, they had thirteen (13) real estate transactions in escrow, which had not yet closed. While in bankruptcy, the transactions closed. The Andersons’ sought recovery of the commissions. The Trustee also sought the commissions arguing that they should be part of the bankruptcy estate. The Bankruptcy Court found in favor of the Trustee and awarded the commissions to the bankruptcy estate.
Shannon B. Jones, Partner firstname.lastname@example.org