[CLBS] "un"titled vehicles

[Rocky Wixom]

Facts: married client owns a drywall business. It is a sole
proprietorship and his son works with him.   They each purchase a
truck several years ago. When they bought the trucks the insurance
company said they needed to hold title in the business name.  Client
registers an assumed business name with the state and lists that
business name (e.g. ABC Drywall) on the titles, registration and
insurance.  However the business always has been and continues to be a
sole proprietorship.

Question: if we file a 7 are the vehicles properly exemptable under
the vehicle exemptions of $7,000 each?

Here the name on title is a non-existent entity but they were
purchased for and used for the sole proprietorship.  Client paid for
both his and part of son's truck. My client has physical possession of
both titles.

Seems like they are property of the estate.  The name on title is not
a real entity so as long as my client has possession of the vehicles
it seems the same as if he were holding to blank titles.

???,   Rocky




-- 
Rocky L. Wixom, Attorney at Law
(208) 542-5298

Wixom Law Office, Inc.
PO Box 51334
Idaho Falls, Idaho  83405

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