.jpg)
Exemptions for joint tenants on real property
Marvin:
Yes, but it doesn't matter because the issue for 704.730 is whether the
co-owners are spouses ( RDPouse) and not the character of the property.
704.730(b) says the combined homestead limitations apply whether the
property is CP or SP.
If you have any questions or concerns, please contact me.
Pat
Patrick T. Green, Esq.
Fitzgerald & Green
Attorneys at Law
1010 E. Union Street
Suite 206
Pasadena, CA 91106
Tel: 626-449-8433
Fax: 626-449-0565
pat@fitzgreenlaw.com
The post was migrated from Yahoo.
Wild card only applies for BK, so non-filer would use 704 and filer 703. If
both filing and RDPs, they are treated as spouses.
If you have any questions or concerns, please contact me.
Pat
Patrick T. Green, Esq.
Fitzgerald & Green
Attorneys at Law
1010 E. Union Street
Suite 206
Pasadena, CA 91106
Tel: 626-449-8433
Fax: 626-449-0565
pat@fitzgreenlaw.com
The post was migrated from Yahoo.
Assuming only one is filing and RDPs: if the filer would use the fed
exemption if the 522 math said so, which means no homestead for the filer.
and the non-filer would use the CA homestead for their interest. OR if the
filer was reqd under 522 to use the exemption another state, they would use
it to their advantage or detriment depending which state and the result for
the non-filer would still be CA homestead. Fascinating number of options
based on the 522 formula. 522 giveth and taketh away.
Both filing, but not allowed CA exemptions, may or may not be to their
advantage.
If you have any questions or concerns, please contact me.
Pat
Patrick T. Green, Esq.
Fitzgerald & Green
Attorneys at Law
1010 E. Union Street
Suite 206
Pasadena, CA 91106
Tel: 626-449-8433
Fax: 626-449-0565
pat@fitzgreenlaw.com
The post was migrated from Yahoo.
Yes
Dennis McGoldrick
350 S. Crenshaw Bl., #A207B
Torrance, CA 90503
On Jan 6, 2010, at 6:51 PM, "Mark J. Markus" wrote:
So being registered D/P creates a community property interest, and then they'd only get one exemption for the entire property?
*************************
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.
What if they have only recently moved to CA and must use the Fed exemptions
or exemptions from another state which does not recognize RDPs. I think
they do better and can "double up" on those exemptions. Your thoughts?
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.
Patrick Green
Sent: Thursday, January 07, 2010 3:08 PM
To: cdcbaa@yahoogroups.com
Subject: RE: [cdcbaa] Exemptions for joint tenants on real property
FC 297.5 says RDPs shall have all right, obligations, etc as spouses. Thus
characterization of property as CP or SP follows the same rules as spouses
and the homestead rules that apply to spouses apply equally to RDPs.
CCP 704.730 (b) says spouses/RDPs still get either a combined 100k or
$175k depending which each category they are in, whether the property is SP
or CP.
If not RDPs but co-owning co-habitators, they each get their $75k.
If you have any questions or concerns, please contact me.
Pat
Patrick T. Green, Esq.
Fitzgerald & Green
Attorneys at Law
1010 E. Union Street
Suite 206
Pasadena, CA 91106
Tel: 626-449-8433
Fax: 626-449-0565
pat@fitzgreenlaw.com
The post was migrated from Yahoo.
What about for other types of exemptions, i.e. the wildcard.
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.
Patrick Green
Sent: Thursday, January 07, 2010 3:08 PM
To: cdcbaa@yahoogroups.com
Subject: RE: [cdcbaa] Exemptions for joint tenants on real property
FC 297.5 says RDPs shall have all right, obligations, etc as spouses. Thus
characterization of property as CP or SP follows the same rules as spouses
and the homestead rules that apply to spouses apply equally to RDPs.
CCP 704.730 (b) says spouses/RDPs still get either a combined 100k or
$175k depending which each category they are in, whether the property is SP
or CP.
If not RDPs but co-owning co-habitators, they each get their $75k.
If you have any questions or concerns, please contact me.
Pat
Patrick T. Green, Esq.
Fitzgerald & Green
Attorneys at Law
1010 E. Union Street
Suite 206
Pasadena, CA 91106
Tel: 626-449-8433
Fax: 626-449-0565
pat@fitzgreenlaw.com
The post was migrated from Yahoo.
FC 297.5 says RDPs shall have all right, obligations, etc as spouses. Thus characterization of property as CP or SP follows the same rules as spouses and the homestead rules that apply to spouses apply equally to RDPs.
CCP 704.730 (b) says spouses/RDPs still get either a combined 100k or $175k depending which each category they are in, whether the property is SP or CP.
If not RDPs but co-owning co-habitators, they each get their $75k.
If you have any questions or concerns, please contact me.
Pat
Patrick T. Green, Esq.
Fitzgerald & Green
Attorneys at Law
1010 E. Union Street
Suite 206
Pasadena, CA 91106
Tel: 626-449-8433
Fax: 626-449-0565
pat@fitzgreenlaw.com
The post was migrated from Yahoo.
Domestic partners are treated as a married couple under CA law and not under
Fed law
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.
Donny Brand
Sent: Wednesday, January 06, 2010 6:38 PM
To: cdcbaa@yahoogroups.com
Subject: RE: [cdcbaa] Exemptions for joint tenants on real property
Generally correct. However, if they are Registered Domestic Partners, then
California community property laws apply, no?
Brand & Spellman PC
3836 E. Anaheim St.
Long Beach, CA 90804
562-438-7500
888-99-BKRPT (888-992-5778)
www.brandspellman.com
This message originates from the law firm of Brand & Spellman PC and may
contain legally privileged and confidential information intended solely for
the use of the addressee. If you are not the intended recipient and have
received this message in error, please notify us at
info@brandspellman.com and delete this email
from your system. Any unauthorized reading, distribution, copying, or other
use of this email or its attachments is strictly prohibited.
The post was migrated from Yahoo.
C.C.P 704.730 states:
(b) Notwithstanding any other provision of this section, the
combined homestead exemptions of spouses on the same judgment shall
not exceed the amount specified in paragraph (2) or (3), whichever is
applicable, of subdivision (a), regardless of whether the spouses
are jointly obligated on the judgment and regardless of whether the
homestead consists of community or separate property or both.
Notwithstanding any other provision of this article, if both spouses
are entitled to a homestead exemption, the exemption of proceeds of
the homestead shall be apportioned between the spouses on the basis
of their proportionate interests in the homestead.
C.F.C. 297.5 states:
a) Registered domestic partners shall have the same rights,
protections, and benefits, and shall be subject to the same
responsibilities, obligations, and duties under law, whether they
derive from statutes, administrative regulations, court rules,
government policies, common law, or any other provisions or sources
of law, as are granted to and imposed upon spouses.
[]
(k) (1) For purposes of the statutes, administrative regulations,
court rules, government policies, common law, and any other provision
or source of law governing the rights, protections, and benefits,
and the responsibilities, obligations, and duties of registered
domestic partners in this state, as effectuated by this section, with
respect to community property, mutual responsibility for debts to
third parties, the right in particular circumstances of either
partner to seek financial support from the other following the
dissolution of the partnership, and other rights and duties as
between the partners concerning ownership of property, any reference
to the date of a marriage shall be deemed to refer to the date of
registration of a domestic partnership with the state.
Donny Brand
Brand & Spellman PC
3836 E. Anaheim St.
Long Beach, CA 90804
562-438-7500
888-99-BKRPT (888-992-5778)
www.brandspellman.com
This message originates from the law firm of Brand & Spellman PC and may contain legally privileged and confidential information intended solely for the use of the addressee. If you are not the intended recipient and have received this message in error, please notify us at info@brandspellman.com and delete this email from your system. Any unauthorized reading, distribution, copying, or other use of this email or its attachments is strictly prohibited.
The post was migrated from Yahoo.