Should I be amending a chapter 7 bankruptcy?

It does not appear that you have provided all of the information. Are you now suing, or threatening to sue, the other investors? Was the omission of the "asset" intentional or inadvertent? What was its value in 2009? Was there an agreement wit the other investors regarding the effect of a bankruptcy? There is insufficient information to give firm advise.

Yes, you should amend immediately. You have to disclose everything. Your ch. 7 trustee will probably get the money that would come to you.

In order to amend the bankruptcy, you would need to file a motion to reopen the case. And that is what you should do. File to reopen, amend the schedules and turn the cause of action over to the trustee as it is his/her asset, not yours. You already have committed a federal crime by not telling the truth on your original bankruptcy schedules. Your only hope of avoiding prosecution or seeking mercy would be to reopen, amend and give up the asset to the estate. I also highly recommend you get yourself a qualified lawyer to help you through this process. You are way out on a limb here.

Yes, you should. When you filed bankruptcy, you swore under penalties of perjury that you did not own this property. You should now correct that statement, or else your Trustee could re-open your bankruptcy to seek your share from the other investors while asking the Court to set aside your discharge for failing to disclose the property. He could also refer you to the FBI for possible criminal prosecution for bankruptcy fraud. You are not going to get any money from this property. It belongs to your 7 estate. Your Trustee will get the money from the other investors. Chances are much better that he will not seek to punish you by setting aside your discharge if you are the one to tell him about this versus someone else. The last thing you want to do is to sue someone to get the money from the property you failed to list in your bankruptcy. I do not know how much money you are talking about here, but people do go to prison for bankruptcy fraud. It happens. You need to talk to a bankruptcy attorney.

This asset should have been listed in your bankruptcy. Contact an attorney first to discuss informing the chapter 7 trustee.

If your Trustee finds out you did not list all your property in your schedules, all kinds of bad things could happen like the denial of discharge, perjury charge, bankruptcy fraud, etc. Perhaps if you contact your attorney immediately and amend your schedules voluntarily, you may end up losing that property share only and not your entire case.

You were required to list ALL your property and interests in property when you filed your bankruptcy. You can reopen your case and list the property; whatever your interest is or was belongs to the bankruptcy Trustee. If you did not have a bankruptcy lawyer then, you need to get one now.

You MUST amend your petition to include it and avoid being accused of fraud by the bankruptcy court. Your 25% interest may or may not be exempt and any non-exempt amount may be recovered by the Trustee against the investors who kept your share of the money.

You may have committed bankruptcy fraud. You make the decision. I am obligated to inform you to tell the truth and let the chips fall where they may. They may not fall in your favor.

Bankruptcy is about lawfull disclosure of all assets. You should amend. It may mean you lose any money from the sale of property and undergo an involved examination by the United States Trustee.