.jpg)
Asset Chapter 7 - Tenants in common question
charset="windows-1251"
Nope, just because you don't live there does not mean you give up your
interest in property. Otherwise apartment building owners and other
landlords would have a real problem. Tenants do, however, have rights as
against each other so, as I mentioned below, there may be claims between
them for things like contribution, reimbursement.
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.
Holly Roark
Sent: Friday, March 18, 2011 3:50 PM
To: cdcbaa@yahoogroups.com
Subject: Re: [cdcbaa] Asset Chapter 7 - Tenants in common question
Thanks. The grant deed says they are 50/50 tenants in common. Since
"tenants in common" can own disproportionate shares, I was wondering whether
the trustee had any legal authority to assert that the estate was entitled
to a greater interest, e.g. maybe the ex-girlfriend "abandoned" her interest
or a portion thereof by moving out. I am not a real estate guru so this
"tenants in common" characterization is a little foreign to me.
Holly Roark
CDCA
holly@roarklawoffices.com
2011/3/18 David A. Tilem
Title is title. Possession is possession. Suppose neither lived in the
property, i.e. it was a rental. Does that mean the tenant would get the
equity? Tenant in possession may, however, have some claims against tenant
not in possession, i.e. contribution.
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.
Holly Roark
Sent: Thursday, March 17, 2011 6:36 PM
To: bk@nacba.org; cdcbaa@yahoogroups.com
Subject: [cdcbaa] Asset Chapter 7 - Tenants in common question
Debtor holds real property as a tenant in common with ex-girlfriend.
Ex-girlfriend moved out. Both debtor and ex-girlfriend put down an equal
down payment and paid equally on the mortgage until both defaulted. When
trustee sells the property, will ex-girlfriend get paid her 1/2 share of the
equity or does trustee have some legal vehicle to keep her from getting her
1/2 share? Does it make a difference that ex-girlfriend moved out?
Holly Roark
holly@roarklawoffices.com
www.roarklawoffices.com
Central District of California
Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600
Los Angeles, CA 90067
T (310) 553-2600
F (310) 553-2601
Holly Roark
holly@roarklawoffices.com
www.roarklawoffices.com
Central District of California
Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600
Los Angeles, CA 90067
T (310) 553-2600
F (310) 553-2601
charset="windows-1251"
Message
Nope, just because you
don't live there does not mean you give up your interest in property. Otherwise apartment building owners and other landlords would have a real
problem. Tenants do, however, have rights as against each other so, as I
mentioned below, there may be claims between them for things like contribution,
reimbursement.
David A.
Tilem
Certified Bankruptcy
Specialist*
The post was migrated from Yahoo.
She will get her 1/2. Subject to, as David said, whatever claims debtor has against her.
Sent from my iPhone
On Mar 17, 2011, at 6:35 PM, Holly Roark wrote:
> Debtor holds real property as a tenant in common with ex-girlfriend. Ex-girlfriend moved out. Both debtor and ex-girlfriend put down an equal down payment and paid equally on the mortgage until both defaulted. When trustee sells the property, will ex-girlfriend get paid her 1/2 share of the equity or does trustee have some legal vehicle to keep her from getting her 1/2 share? Does it make a difference that ex-girlfriend moved out?
>
> --
> Holly Roark
> holly@roarklawoffices.com
> www.roarklawoffices.com
> Central District of California
> Consumer Bankruptcy Attorney
> 1875 Century Park East, Suite 600
> Los Angeles, CA 90067
> T (310) 553-2600
> F (310) 553-2601
>
>
She will get her 1/2. Subject to, as David said, whatever claims debtor has against her.Sent from my iPhoneOn Mar 17, 2011, at 6:35 PM, Holly Roark <
Debtor holds real property as a tenant in common with ex-girlfriend. Ex-girlfriend moved out. Both debtor and ex-girlfriend put down an equal down payment and paid equally on the mortgage until both defaulted. When trustee sells the property, will ex-girlfriend get paid her 1/2 share of the equity or does trustee have some legal vehicle to keep her from getting her 1/2 share? Does it make a difference that ex-girlfriend moved out?
--
Holly Roark
The post was migrated from Yahoo.
Thanks. The grant deed says they are 50/50 tenants in common. Since
"tenants in common" can own disproportionate shares, I was wondering whether
the trustee had any legal authority to assert that the estate was entitled
to a greater interest, e.g. maybe the ex-girlfriend "abandoned" her interest
or a portion thereof by moving out. I am not a real estate guru so this
"tenants in common" characterization is a little foreign to me.
Holly Roark
CDCA
holly@roarklawoffices.com
2011/3/18 David A. Tilem
>
>
> Title is title. Possession is possession. Suppose neither lived in the
> property, i.e. it was a rental. Does that mean the tenant would get the
> equity? Tenant in possession may, however, have some claims against tenant
> not in possession, i.e. contribution.
>
>
> *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.
> Business bankruptcy specialist cert. by Amer. Bd. of Certification
>
>
> -----Original Message-----
> *From:* cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] *On Behalf
> Of *Holly Roark
> *Sent:* Thursday, March 17, 2011 6:36 PM
> *To:* bk@nacba.org; cdcbaa@yahoogroups.com
> *Subject:* [cdcbaa] Asset Chapter 7 - Tenants in common question
>
>
>
> Debtor holds real property as a tenant in common with ex-girlfriend.
> Ex-girlfriend moved out. Both debtor and ex-girlfriend put down an equal
> down payment and paid equally on the mortgage until both defaulted. When
> trustee sells the property, will ex-girlfriend get paid her 1/2 share of the
> equity or does trustee have some legal vehicle to keep her from getting her
> 1/2 share? Does it make a difference that ex-girlfriend moved out?
>
> --
> Holly Roark
> holly@roarklawoffices.com
> www.roarklawoffices.com
> Central District of California
> Consumer Bankruptcy Attorney
> 1875 Century Park East, Suite 600
> Los Angeles, CA 90067
> T (310) 553-2600
> F (310) 553-2601
>
>
>
Holly Roark
holly@roarklawoffices.com
www.roarklawoffices.com
Central District of California
Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600
Los Angeles, CA 90067
T (310) 553-2600
F (310) 553-2601
Thanks. The grant deed says they are 50/50 tenants in common.was wondering whether the trustee had any legal authority to assert that the estate was entitled to a greaterinterest, e.g. maybe the ex-girlfriend "abandoned" her interest or a portion thereof by moving out.aracterization is a little foreign to me.
Holly Roark
CDCA
holly@roarklawoffices.com
2011/3/18 David A. Tilem <DavidTilem@tilemlaw.com>
Title is title. Possession is possession. Suppose neither lived in the property, i.e. it was a rental.ion may, however, have some claims against tenant not in possession, i.e. contribution.
The post was migrated from Yahoo.
charset="windows-1251"
Title is title. Possession is possession. Suppose neither lived in the
property, i.e. it was a rental. Does that mean the tenant would get the
equity? Tenant in possession may, however, have some claims against tenant
not in possession, i.e. contribution.
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.
Holly Roark
Sent: Thursday, March 17, 2011 6:36 PM
To: bk@nacba.org; cdcbaa@yahoogroups.com
Subject: [cdcbaa] Asset Chapter 7 - Tenants in common question
Debtor holds real property as a tenant in common with ex-girlfriend.
Ex-girlfriend moved out. Both debtor and ex-girlfriend put down an equal
down payment and paid equally on the mortgage until both defaulted. When
trustee sells the property, will ex-girlfriend get paid her 1/2 share of the
equity or does trustee have some legal vehicle to keep her from getting her
1/2 share? Does it make a difference that ex-girlfriend moved out?
Holly Roark
holly@roarklawoffices.com
www.roarklawoffices.com
Central District of California
Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600
Los Angeles, CA 90067
T (310) 553-2600
F (310) 553-2601
charset="windows-1251"
Message
Title is title.
Possession is possession. Suppose neither lived in the property, i.e. it
was a rental. Does that mean the tenant would get the equity? Tenant
in possession may, however, have some claims against tenant not in possession,
i.e. contribution.
David A.
Tilem
Certified Bankruptcy
Specialist*
The post was migrated from Yahoo.
Debtor holds real property as a tenant in common with ex-girlfriend.
Ex-girlfriend moved out. Both debtor and ex-girlfriend put down an equal
down payment and paid equally on the mortgage until both defaulted. When
trustee sells the property, will ex-girlfriend get paid her 1/2 share of the
equity or does trustee have some legal vehicle to keep her from getting her
1/2 share? Does it make a difference that ex-girlfriend moved out?
Holly Roark
holly@roarklawoffices.com
www.roarklawoffices.com
Central District of California
Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600
Los Angeles, CA 90067
T (310) 553-2600
F (310) 553-2601
Debtor holds realproperty as a tenant in common with ex-girlfriend. Ex-girlfriend moved out. Both debtor and ex-girlfriend put down an equal down payment and paid equally on the mortgage until both defaulted. When trustee sells the property, will ex-girlfriend get paid her 1/2 share of the equity or does trustee have some legal vehicle to keep her from getting her 1/2 share? Does it make a difference that ex-girlfriend moved out?
--
Holly Roark
holly@roarklawoffices.com
www.roarklawoffices.com
Central District of California
Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600
Los Angeles, CA 90067
T (310) 553-2600
F (310) 553-2601
The post was migrated from Yahoo.