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Underwriters asking for "order for abandonment" when lender
Authority for those who answered that the stay lift does not equal
abandonment, at least for the 9th Circuit: Catalano v. CIR, 279 F.3d 682
(9th Cir. 2002) (lifting stay did not effect abandonment of estate's
interest in debtor's residence; procedures under 554 must be followed).
Holly Roark
On Thu, Mar 24, 2011 at 1:27 PM, Holly Roark wrote:
> I have had calls from debtors who are doing short sales where an
> underwriter is insisting on having an "order for abandonment" when the
> lender already obtained relief from stay to foreclose. Doesn't the relief
> from stay order (where the trustee has an opportunity to oppose but does
> not) effectively "abandon" the property and take it out of the estate? Am I
> missing something? Do you also need an "order for abandonment" in order for
> the debtor to sell the property?
>
> --
> 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
Authority for those who answered thatthe stay lift does not equal abandonment, at least for the 9th Circuit: Catalano v. CIR, 279 F.3d 682 (9th Cir. 2002) (lifting stay did not effect abandonment of estate's interest in debtor's residence; procedures under 554 must be followed).
Holly Roark
On Thu, Mar 24, 2011 at 1:27 PM, Holly Roark <hollyroark22@gmail.com> wrote:
I have had calls from debtors who are doing short sales where an underwriter is insisting on having an "order for abandonment" when the lender already obtained relief from stay to foreclose. Doesn't the relief from stay order (where the trustee has an opportunity to oppose but does not) effectively "abandon" the property and take it out of the estate? Am I missing something?debtor to sell the property?
--
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
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