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scheduling mtg debt for real estate where debtor not on
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yes, why not?
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.
Mark J. Markus
Sent: Wednesday, December 23, 2009 11:40 AM
To: cdcbaa@yahoogroups.com
Subject: Re: [cdcbaa] scheduling mtg debt for real estate where debtor not
on loan
And in this type of situation would those claims count towards a debtor's
109(e) limits?
*************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw. com/
This Firm is a Qualified Federal Debt Relief Agency (see what this means at
http://bklaw.
The post was migrated from Yahoo.
Yes, list claims on schedule D. Claim against debtor includes claim against
property owned by debtor. Check the definitions.
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.
Mark J. Markus
Sent: Tuesday, December 22, 2009 10:14 AM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] scheduling mtg debt for real estate where debtor not on
loan
I'm sure this happens a lot, but for some reason this is my first time:
Debtor is on title to a house where debtor's parents live. However,
debtor is NOT on any of the loans against the house.
Obviously if we file a BK the ownership will get listed in Schedule "A",
but do I need to list the mortgages, etc. in Schedule "D" even if debtor
isn't obligated on them? And, if not, how is best to make it clear that
there is no equity to the debtor? Just list the equity amount as the
value of debtor's interest?
*************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw. com/
This Firm is a Qualified Federal Debt Relief Agency (see what this means at
http://bklaw.
The post was migrated from Yahoo.
I list the house on Schedule A. Put in notes that is is listed for
completeness with explanation of situation and also list that Debtor is not
on loan. I list nothing on Schedule "D".
Hank
PS: I know you will, but be sure and check if Debtor has ever made any
payments or downpayment, etc. Be sure an list that information in the notes
on A.
Mark J. Markus
Sent: Tuesday, December 22, 2009 10:14 AM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] scheduling mtg debt for real estate where debtor not on
loan
I'm sure this happens a lot, but for some reason this is my first time:
Debtor is on title to a house where debtor's parents live. However,
debtor is NOT on any of the loans against the house.
Obviously if we file a BK the ownership will get listed in Schedule "A",
but do I need to list the mortgages, etc. in Schedule "D" even if debtor
isn't obligated on them? And, if not, how is best to make it clear that
there is no equity to the debtor? Just list the equity amount as the
value of debtor's interest?
*************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw.com/
This Firm is a Qualified Federal Debt Relief Agency (see what this means at
The post was migrated from Yahoo.