.jpg)
11 USC 547(b)
But the Debtor has an interest in the money itself. It is well settled that
money is property and if the Debtor generated it, he or she has an interest
in it. When the money changes hands, the interest has been transferred.
The lender now has funds it did not have before. So, the position is
changed. That the lender is secured only goes to the element of whether it
would get more in liquidation -- so, if it is oversecured, it would get the
same in liquidation anyway.
On Mon, May 3, 2010 at 5:58 PM, J.L. wrote:
>
>
> I'd say that a payment on a debt is not a transfer of interest. When the
> debtor gave the deed of trust that would be, but not a payment because the
> positions of the parties [bank and homeowner] don't change.
>
>
> --- In cdcbaa@yahoogroups.com , warren brown
> wrote:
> >
> >
> > How can a payment by a debtor, whether preferential or not, be something
> other than a transfer of an interest of the debtor in property?
> >
> >
> >
> > To: cdcbaa@yahoogroups.com
>
> > Date: Mon, 3 May 2010 17:40:08 +0000
> > Subject: [cdcbaa] 11 USC 547(b)
> >
> >
> >
> >
> >
> > Somebody shoot me down here ...
> >
> > question is if a debtor pays 6 months arrearage on the mortgage on his
> primary residence, is that an avoidable transfer if done withing 90 days
> prior to filing a case in chapter 7? This debtor will not qualify under
> Chapter 13.
> >
> > looking at 547(b) I think not because it does not transfer an "interest
> of the debtor in property".
> >
> > 101 doesn't define "interest" and so far this morning I haven't found a
> BAP or 9th circuit case that engages that directly.
> >
> > I'm missing something obvious I think, but it's Monday.
> >
> > Thank you all
> >
> >
> >
> >
> >
> > __________________________________________________________
> > The New Busy is not the old busy. Search, chat and e-mail from your
> inbox.
> >
> http://www.windowslive.com/campaign/the ... P:042010_3
> >
>
>
>
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But the Debtor has an interest in the money itself. It is well settled that money is property and if the Debtor generated it, he or she has an interest in it. When the money changes hands, the interest has been transferred. The lender now has funds it did not have before. So, the position is changed. That the lender is secured only goes to the element of whether it would get more in liquidation -- so, if it is oversecured, it would get the same in liquidation anyway.
On Mon, May 3, 2010 at 5:58 PM, J.L. <jgreifendorff@greifenlaw.com> wrote:
I'd say that a payment on a debt is not a transfer of interest. When the debtor gave the deed of trust that would be, but not a payment because the positions of the parties [bank and homeowner] don't change.
@yahoogroups.com, warren brown <wbbk@...> wrote:
>
>
> How can a payment by a debtor, whether preferential or not, be something other than a transfer of an interest of the debtor in property?
>
>
>
> To: cdcbaa@yahoogroups.com
> Date: Mon, 3 May 2010 17:40:08 +0000
> Subject: [cdcbaa] 11 USC 547(b)
>
>
>
>
>
> Somebody shoot me down here ...
>
> question is if a debtor pays 6 months arrearage on the mortgage on his primary residence, is that an avoidable transfer if done withing 90 days prior to filing a case in chapter 7? This debtor will not qualify under Chapter 13.
>
> looking at 547(b) I think not because it does not transfer an "interest of the debtor in property".
>
> 101 doesn't define "interest" and so far this morning I haven't found a BAP or 9th circuit case that engages that directly.
>
The post was migrated from Yahoo.
Thank you Clifford, I now perform the universal slap of enlightenment
.>
>
> How can a payment by a debtor, whether preferential or not, be something other than a transfer of an interest of the debtor in property?
>
>
>
> To: cdcbaa@yahoogroups.com
> Date: Mon, 3 May 2010 17:40:08 +0000
> Subject: [cdcbaa] 11 USC 547(b)
>
>
>
>
>
> Somebody shoot me down here ...
>
> question is if a debtor pays 6 months arrearage on the mortgage on his primary residence, is that an avoidable transfer if done withing 90 days prior to filing a case in chapter 7? This debtor will not qualify under Chapter 13.
>
> looking at 547(b) I think not because it does not transfer an "interest of the debtor in property".
>
> 101 doesn't define "interest" and so far this morning I haven't found a BAP or 9th circuit case that engages that directly.
>
> I'm missing something obvious I think, but it's Monday.
>
> Thank you all
>
>
>
>
>
> _________________________________________________________________
> The New Busy is not the old busy. Search, chat and e-mail from your inbox.
> http://www.windowslive.com/campaign/the ... P:042010_3
>
The post was migrated from Yahoo.
I'd say that a payment on a debt is not a transfer of interest. When the debtor gave the deed of trust that would be, but not a payment because the positions of the parties [bank and homeowner] don't change.
>
>
> How can a payment by a debtor, whether preferential or not, be something other than a transfer of an interest of the debtor in property?
>
>
>
> To: cdcbaa@yahoogroups.com
> Date: Mon, 3 May 2010 17:40:08 +0000
> Subject: [cdcbaa] 11 USC 547(b)
>
>
>
>
>
> Somebody shoot me down here ...
>
> question is if a debtor pays 6 months arrearage on the mortgage on his primary residence, is that an avoidable transfer if done withing 90 days prior to filing a case in chapter 7? This debtor will not qualify under Chapter 13.
>
> looking at 547(b) I think not because it does not transfer an "interest of the debtor in property".
>
> 101 doesn't define "interest" and so far this morning I haven't found a BAP or 9th circuit case that engages that directly.
>
> I'm missing something obvious I think, but it's Monday.
>
> Thank you all
>
>
>
>
>
> _________________________________________________________________
> The New Busy is not the old busy. Search, chat and e-mail from your inbox.
> http://www.windowslive.com/campaign/the ... P:042010_3
>
The post was migrated from Yahoo.
How can a payment by a debtor, whether preferential or not, be something other than a transfer of an interest of the debtor in property?
To: cdcbaa@yahoogroups.com
Date: Mon, 3 May 2010 17:40:08 +0000
Subject: [cdcbaa] 11 USC 547(b)
Somebody shoot me down here ...
question is if a debtor pays 6 months arrearage on the mortgage on his primary residence, is that an avoidable transfer if done withing 90 days prior to filing a case in chapter 7? This debtor will not qualify under Chapter 13.
looking at 547(b) I think not because it does not transfer an "interest of the debtor in property".
BAP or 9th circuit case that engages that directly.
I'm missing something obvious I think, but it's Monday.
Thank you all
The post was migrated from Yahoo.
Prepetition transfers to a creditor who is fully secured on the petition date are generally not preferential because the secured creditor is entitled to 100% of its claim (so no advantage to secured creditor over general unsecureds is gained by the transfer). In Re LCO Enterprises (90th Cir. 1993) 12 F.3d 938.
>
> Somebody shoot me down here ...
>
> question is if a debtor pays 6 months arrearage on the mortgage on his primary residence, is that an avoidable transfer if done withing 90 days prior to filing a case in chapter 7? This debtor will not qualify under Chapter 13.
>
> looking at 547(b) I think not because it does not transfer an "interest of the debtor in property".
>
> 101 doesn't define "interest" and so far this morning I haven't found a BAP or 9th circuit case that engages that directly.
>
> I'm missing something obvious I think, but it's Monday.
>
> Thank you all
>
The post was migrated from Yahoo.
Somebody shoot me down here ...
question is if a debtor pays 6 months arrearage on the mortgage on his primary residence, is that an avoidable transfer if done withing 90 days prior to filing a case in chapter 7? This debtor will not qualify under Chapter 13.
looking at 547(b) I think not because it does not transfer an "interest of the debtor in property".
BAP or 9th circuit case that engages that directly.
I'm missing something obvious I think, but it's Monday.
Thank you all
The post was migrated from Yahoo.