William Charles Honeycutt and Lori Carter Honeycutt

UNITED STATES BANKRUPTCY COURT
EASTERN DISTRICT OF NORTH CAROLINA
RALEIGH DIVISION
IN RE:
WILLIAM CHARLES HONEYCUTT and
LORI CARTER HONEYCUTT,
DEBTORS.
CASE NO. 09-09488-8-JRL
Chapter 13
ORDER
This matter came before the court on the debtors’ motion for proposed abandonment of
property.
The debtors filed a voluntary chapter 13 petition on October 30, 2009. An order
confirming the debtors’ chapter 13 plan was entered on February 9, 2010. Following
confirmation, the debtors sought an order from the court compelling the trustee to abandon the
debtors’ 2005 GMC Sierra, which secures CitiFinancial’s loan for approximately $18,500.00,
because the vehicle is burdensome and of no economic value to the estate. Debtors contend the
vehicle’s fair market value is approximately the amount owed to CitiFinancial.
Section 554 of the Bankruptcy Code gives the trustee the right to abandon property of the
estate that is burdensome or of inconsequential value to the estate. 11 U.S.C. §554(a). A party
in interest, such as the debtor, may request the court order the trustee to abandon property found
SO ORDERED.
SIGNED this 28 day of March, 2011.
________________________________________
J. Rich Leonard
United States Bankruptcy Judge
____________________________________________________________
Case 09-09488-8-JRL Doc 17 Filed 03/28/11 Entered 03/28/11 16:26:32 Page 1 of 2

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to be burdensome or of inconsequential value. §554(b). Central to the provision on
abandonment is that the property at issue be property of the estate. Id. (“the court may order the
trustee to abandon any property of the estate . . . .”). The debtors’ plan was confirmed on
February 9, 2010. Section 1327(b) states that confirmation of the plan “vests all of the property
of the estate in the debtor.” Therefore, the debtors’ vehicle is no longer property of the estate
and thus not subject to an order to abandon property under §554.
The debtors’ motion to surrender is DENIED with leave to file a motion to modify the
plan should the debtors still wish to surrender the vehicle.
END OF DOCUMENT.
Case 09-09488-8-JRL Doc 17 Filed 03/28/11 Entered 03/28/11 16:26:32 Page 2 of 2