Notice of Intent to Abandon Property

A Notice of Intent to Abandon Property is a legal document filed by a bankruptcy trustee to inform the court and the other parties that the trustee intends to abandon certain property of the bankruptcy estate. The notice must identify the property to be abandoned and the reasons why the trustee believes that the property is of inconsequential value or benefit to the estate. If no objections are filed within a certain time period, the trustee may proceed with the abandonment without further court approval. If objections are filed, the court will hold a hearing to determine whether the abandonment should be approved.