.jpg)
Homestead Exemption Proceeds
Stella do you have a copy of the article? I was under the impression that
the 6 month rule applied whether the sale is voluntary or involuntary (of
course, voluntary would require declared homestead and all that jazz).
I am not a big fan of the rutter guide so I'm a bit leery about things
written by march/ahart.
Sincerely,
Michael Avanesian
Law Offices of David A. Tilem
www.tilemlaw.com
818-507-6000
On Thu, Jun 5, 2014 at 7:40 PM, Nicholas Gebelt ngebelt@gebeltlaw.com
[cdcbaa] wrote:
>
>
> Dear Stella and Jon,
>
>
>
> This question came up at the April 24 presentation of the Orange County
> Bar Association. The panel included Judges Albert, Bauer, Clarkson, and
> Houle, and Tom Casey, Amrane Cohen, and Michael Hauser, with Richard
> Marshack and Jay Chien serving as moderators. The general consensus was
> that if more than 180 days passed after the sale without a purchase of a
> new home, the trustee could seize the proceeds. Therefore, if you> either the Santa Ana or Riverside Divisions you may have a problem if your
> debtor hasnt reinvested in a new home.
>
>
>
> Good luck,
>
>
>
> Nick
>
>
>
> *Nicholas Gebelt*
>
>
>
> Nicholas Gebelt, Ph.D., J.D.
>
> Attorney at Law
>
> Certified Bankruptcy Law Specialist
>
>
>
> [image: Description: Description: Description:
> cid:image003.jpg@01CC076B.B14D73C0]
>
>
>
> Law Offices of Nicholas Gebelt
>
> 15150 Hornell Street
>
> Whittier, CA 90604
>
> Phone: 562.777.9159
>
> FAX: 562.946.1365
>
> Email: ngebelt@goodbye2debt.com; ngebelt@gebeltlaw.com
>
> Web: www.goodbye2debt.com
>
> Blog: www.southerncaliforniabankruptcylawblog.com/
>
>
>
> *Important notice required by 11 U.S.C. 528:* We are a debt relief
> agency. We help people file for bankruptcy relief under the Bankruptcy Code.
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> *Confidentiality Note*: This e-mail is intended only for the person or
> entity to which it is addressed and may contain information that is
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> responsible for delivering the message to the intended recipient, is
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> and this email does not contain any legal advice for you.
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> imposed by the Internal Revenue Service, we inform you that any U.S. tax
> advice contained in this communication (including any attachments) is not
> intended to be used, and cannot be used, for the purpose of (i) avoiding
> penalties under the Internal Revenue code, or (ii) promoting, marketing, or
> recommending to another party any transaction or matter addressed herein.
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> *From:* cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com]
> *Sent:* Thursday, June 05, 2014 6:53 PM
> *To:* cdcbaa@yahoogroups.com
> *Subject:* Re: [cdcbaa] Homestead Exemption Proceeds
>
>
>
>
>
> Depends if you follow Jacobsen. If it is deemed to be an involuntary sale
> according to Judge Ahart's article on the subject, then no.
>
> -----Original Message-----
> Sent: Jun 5, 2014 6:34 PM
> To: cdcbaa@yahoogroups.com
> Subject: [cdcbaa] Homestead Exemption Proceeds
>
> Suppose the chapter 7 trustee sells the debtor's home and gives the debtor
> the $100k as the homestead exemption. Does the debtor then have to reinvest
> it in 6 months or lose it?
>
>
> Yikes, another thing to worry about.
>
>
>
Stella do you have a copy of the article? I was under the impression that the 6 month rule applied whether the sale is voluntary or involuntary (of course, voluntary would require declared homestead and all that jazz).
I am not a big fan of the rutter guide so I'm a bit leery about things written by march/ahart.Sincerely,
Michael AvanesianLaw Offices of David A. Tilemwww.tilemlaw.com818-507-6000
On Thu, Jun 5, 2014 at 7:40 PM, Nicholas Gebelt ngebelt@gebeltlaw.com [cdcbaa] <cdcbaa@yahoogroups.com> wrote:
Dear Stella and Jon,
This question came up at the April 24 presentation of the Orange County Bar Association. The panel included Judges Albert, Bauer, Clarkson, and Houle, and
Tom Casey, Amrane Cohen, and Michael Hauser, with Richard Marshack and Jay Chien serving as moderators. The general consensus was that if more than 180 days passed after the sale without a purchase of a new home, the trustee could seize the proceeds. Therefore,
if youre in either the Santa Ana or Riverside Divisions you may have a problem if your debtor hasnt reinvested in a new home.
Good luck,
Nick
Nicholas Gebelt
Nicholas Gebelt, Ph.D., J.D.
Attorney at Law
Certified Bankruptcy Law Specialist
Law Offices of Nicholas Gebelt
15150 Hornell Street
Whittier, CA 90604
Phone: 562.777.9159
FAX:et"_blank">562.946.1365
Email:
ngebelt@goodbye2debt.com;
ngebelt@gebeltlaw.com
Web:www.goodbye2debt.com
Blog:www.southerncaliforniabankruptcylawblog.com/
Important notice required by 11 U.S.C. 528:
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
Confidentiality Note: entity to which it is addressed and may contain information that is privileged, confidential, or otherwise protected from disclosure. Dissemination, distribution, or copying of this e-mail or the information herein by anyone other than the intended recipient,
or an employee or agent responsible for delivering the message to the intended recipient, is prohibited. If you have received this e-mail in error, please notify us immediately at 562.777.9159 or e-mail
info@gebeltlaw.com and destroy the original message and all copies.
Representation Note: the Law Offices of Nicholas Gebelt do not represent you, and this email does not contain any legal advice for you.
IRS Circular 230 Disclosure:
In order to comply with the requirements imposed by the Internal Revenue Service, we inform you that any U.S. tax advice contained in this communication (including any attachments)
is not intended to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue code, or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.
From: cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com]
Sent: Thursday, June 05, 2014 6:53 PM
To: cdcbaa@yahoogroups.com
Subject: Re: [cdcbaa] Homestead Exemption Proceeds
Depends if you follow Jacobsen. If it is deemed to be an involuntary sale according to Judge Ahart's article on the subject, then no.
-----Original Message-----
es@hayesbklaw.com [cdcbaa]"
Sent: Jun 5, 2014 6:34 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] Homestead Exemption Proceeds
Suppose the chapter 7 trustee sells the debtor's home and gives the debtor the $100k as the homestead exemption. Does the debtor then have to reinvest it in 6 months or lose it?
Yikes, another thing to worry about.
X-Attachment-Id: 806ee3ef7fc006df_0.1
X-Attachment-Id: 806ee3ef7fc006df_0.1
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