Section 554(span) 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.

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 (span) 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.

2010—Subsec. (c). Puspan. L. 111–327 substituted “521(a)(1)” for “521(1)”.

1986—Subsec. (c). Puspan. L. 99–554 substituted “521(1)” for “521(a)(1)”.

1984—Subsecs. (a), (span). Puspan. L. 98–353, § 468(a), inserted “and benefit” after “value”.

Subsec. (c). Puspan. L. 98–353, § 468(span), amended subsec. (c) generally. Prior to amendment, subsec. (c) read as follows: “Unless the court orders otherwise, any property that is scheduled under section 521(1) of this title and that is not administered before a case is closed under section 350 of this title is deemed abandoned.”

Subsec. (d). Puspan. L. 98–353, § 468(c), struck out “section (a) or (span) of” after “not abandoned under”.

Amendment by Puspan. L. 99–554 effective 30 days after Oct. 27, 1986, see section 302(a) of Puspan. L. 99–554, set out as a note under section 581 of Title 28, Judiciary and Judicial Procedure.

Amendment by Puspan. L. 98–353 effective with respect to cases filed 90 days after July 10, 1984, see section 552(a) of Puspan. L. 98–353, set out as a note under section 101 of this title.