Pub. L. 95–59892 Stat. 2603Pub. L. 98–353, title III, § 46898 Stat. 380Pub. L. 99–554, title II, § 283(p)100 Stat. 3118Pub. L. 111–327, § 2(a)(23)124 Stat. 3560(, , ; , , ; , , ; , , .)
Historical and Revision Notes
legislative statements
Section 554(b) is new and permits a party in interest to request the court to order the trustee to abandon property of the estate that is burdensome to the estate or that is of inconsequential value to the estate.
senate report no. 95–989
Under this section the court may authorize the trustee to abandon any property of the estate that is burdensome to the estate or that is of inconsequential value to the estate. Abandonment may be to any party with a possessory interest in the property abandoned. In order to aid administration of the case, subsection (b) deems the court to have authorized abandonment of any property that is scheduled under section 521(1) and that is not administered before the case is closed. That property is deemed abandoned to the debtor. Subsection (c) specifies that if property is neither abandoned nor administered it remains property of the estate.
Editorial Notes
Amendments
Pub. L. 111–3272010—Subsec. (c). substituted “521(a)(1)” for “521(1)”.
Pub. L. 99–5541986—Subsec. (c). substituted “521(1)” for “521(a)(1)”.
Pub. L. 98–353, § 468(a)1984—Subsecs. (a), (b). , inserted “and benefit” after “value”.
Pub. L. 98–353, § 468(b)section 521(1) of this titlesection 350 of this titleSubsec. (c). , amended subsec. (c) generally. Prior to amendment, subsec. (c) read as follows: “Unless the court orders otherwise, any property that is scheduled under and that is not administered before a case is closed under is deemed abandoned.”
Pub. L. 98–353, § 468(c)Subsec. (d). , struck out “section (a) or (b) of” after “not abandoned under”.
Statutory Notes and Related Subsidiaries
Effective Date of 1986 Amendment
Pub. L. 99–554section 302(a) of Pub. L. 99–554section 581 of Title 28Amendment by effective 30 days after , see , set out as a note under , Judiciary and Judicial Procedure.
Effective Date of 1984 Amendment
Pub. L. 98–353section 552(a) of Pub. L. 98–353section 101 of this titleAmendment by effective with respect to cases filed 90 days after , see , set out as a note under .