.jpg)
SP to CP and Back - undoing a transfer prior to a Chapter 13
Family law gurus - if the deed was changed to CP and then held in trust, can
the property be transmuted back to SP via deed to have the other spouse file
without risk, or are we deep into fraudulent transfer territory in Chapter
13-land?
I know in Chapter 7 cases, pre-petition transfers can be "negated" to avoid
legal effect...
_____
The post was migrated from Yahoo.
charset="windows-1251"
The language of the trust transmuted the property to community property.
Marvin Mann was helpful pointing me to the Starkman case, an appellate case
in the Ninth Circuit. I guess it really becomes about analogizing facts to
Starkman in defending an objection from the Chapter 13 trustee. Thanks,
David and Marvin.
_____
The post was migrated from Yahoo.
charset="windows-1251"
Hale:
You need to read the trust. Transferring the property into the trust may
not affect its character. I don't think trusts are "owned" or that they are
"owned" as cp.
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
Specialization.
The post was migrated from Yahoo.
charset="US-ASCII"
Chapter 13 debtors have an interest in an out-of-state property. It was an
inheritance for Debtor (SP) that he since transfered to a living trust owned
by both debtors (CP). For liquidation reasons, this paid off property could
make a Chapter 13 infeasible, since 100% of the debt would result in a
pretty darned high plan payment. Question - if the property is transferred
back to Debtor and then the Joint Debtor filed by herself, is the problem
solved by reinstating its SP status? Is there another solution I'm missing?
I don't want to file a plan if it's DOA for liq'n analysis with no fix.
charset="US-ASCII"
Chapter 13 debtors
have an interest in an out-of-state property. It was an inheritance
for Debtor (SP) that he since transfered to a living trust owned by both debtors
(CP). For liquidation reasons, this paid off property could make a Chapter
13 infeasible, since 100% of the debt would result in a pretty darned high plan
payment. Question - if the property is transferred back to Debtor and then
the Joint Debtor filed by herself, is the problem solved by reinstating its SP
status? Is there another solution I'm missing? I don't want to file
a plan if it's DOA for liq'n analysis with no
fix.
The post was migrated from Yahoo.