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Property valuation in Mexico?
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List the property as real property with a value to debtor of zero. Put as
much of this backstory into the comments on the petition as possible. The
trustee will probably ask questions at the 341; have the debtor answer
truthfully. Dollars to donuts the trustee will just abandon; I recently
sold a condo in Baja for a trustee, and real estate sales in Mexico are a
process that trustees have no interest in doing if they can avoid it.
On 5/4/10 9:51 AM, "korompisn@yahoo.com" wrote:
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>
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> What other ways are there of providing a property valuation in Mexico (eg
> Debtor's declaration) other than obtaining a BPO or appraisal when debtor has
> no means of obtaining it in such form?
>
> Debtor has an apt in Mexico that is being occupied by his estranged wife for
> 20 years plus now. His kids also live there. Estranged wife claims it as hers
> and debtor does not object, but no paperwork has been obtained to finalize it
> and the divorce.
>
> Debtor wants to file a 7 but is concerned about not being able to get a
> valuation on the property other than verbal information from estranged wife,
> which fortunately stated it at 20k.
>
> Debtor who is a min wage earner, has no contacts there and doesn't have money
> to fly there to sort this out.
>
> Thanks.
>
> Nancy Korompis
>
> Pasadena, CA
> Korompisn@yahoo.com
> 626 716-7763
>
> Sent from my iPhone
>
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>
>
>
>
>>> - John D. Faucher
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Re: [cdcbaa] Property valuation in Mexico?
List the property as real property with a value to debtor of zero. Put as much of this backstory into the comments on the petition as possible. The trustee will probably ask questions at the 341; have the debtor answer truthfully. Dollars to donuts the trustee will just abandon; I recently sold a condo in Baja for a trustee, and real estate sales in Mexico are a process that trustees have no interest in doing if they can avoid it.
On 5/4/10 9:51 AM, "korompisn@yahoo.com" <korompisn@yahoo.com> wrote:
What other ways are there of providing a property valuation in Mexico (eg Debtor's declaration) other than obtaining a BPO or appraisal when debtor has no means of obtaining it in such form?
Debtor has an apt in Mexico that is being occupied by his estranged wife for 20 years plus now. His kids also live there. Estranged wife claims it as hers and debtor does not object, but no paperwork has been obtained to finalize it and the divorce.
Debtor wants to file a 7 but is concerned about not being able to get a valuation on the property other than verbal information from estranged wife, which fortunately stated it at 20k.
Debtor who is a min wage earner, has no contacts there and doesn't have money to fly there to sort this out.
Thanks.
Nancy Korompis
Pasadena, CA
Korompisn@yahoo.com
626 716-7763
Sent from my iPhone
- John D. Faucher
The post was migrated from Yahoo.
What other ways are there of providing a property valuation in Mexico (eg Debtor's declaration) other than obtaining a BPO or appraisal when debtor has no means of obtaining it in such form?
Debtor has an apt in Mexico that is being occupied by his estranged wife for 20 years plus now. His kids also live there. Estranged wife claims it as hers and debtor does not object, but no paperwork has been obtained to finalize it and the divorce.
Debtor wants to file a 7 but is concerned about not being able to get a valuation on the property other than verbal information from estranged wife, which fortunately stated it at 20k.
Debtor who is a min wage earner, has no contacts there and doesn't have money to fly there to sort this out.
Thanks.
Nancy Korompis
Pasadena, CA
Korompisn@yahoo.com
626 716-7763
Sent from my iPhone
What other ways are there of providing a property valuation in Mexico (eg Debtor's declaration) other than obtaining a BPO or appraisal when debtor has no means of obtaining it in such form?Debtor has an apt in Mexico
that is being occupied by his estranged wife for 20 years plus now. His kids also live there. Estranged wife claims it as hers and debtor does not object, but no paperwork has been obtained to finalize
it and the divorce.Debtor wants to file a 7 but is concerned about not being able to get a valuation on the property other than verbal information from estranged wife, which fortunately stated it at 20k. Debtor who is a min wage earner, has no contacts there and doesn't have money to fly there to sort this out.Thanks.Nancy KorompisPasadena, CAKorompisn@yahoo.com626 716-7763 Sent from my iPhone
The post was migrated from Yahoo.