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Ch 13 only one spouse files and 109(e) limits
No, not unless the debtor cosigned.
Dennis McGoldrick
350 S. Crenshaw Bl., #A207B
Torrance, CA 90503
On Feb 22, 2010, at 10:32 AM, "lindseybgreen" wrote:
Facts: Ch. 13 potential case where one spouse wants to file only. Filing spouse has $365,000 owing on 1st mortgage and $142,000 owing on junior mortgage. Filing spouse wants to file Lam motion as fmv on this residence is $350,000.
Non debtor spouse has 2 separate property residences acquired prior to marriage where title is in non debtor spouse's name alone. Thus, these 2 properties are non debtor spouse's separate property. No prenuptial agreement exists among the spouses. Non debtor spouse's 2 separate property residences have encumbrances of $310,000 and $460,000 respectively. This would put filing spouse above limit in Ch. 13 per 109(e) if these 2 separate property residence and their encumbrances were factored in for 109(e) purposes. Would court count non debtor spouse's separate property residence with encumbrances in a 109(e) analysis?
Thanx,
Lindsey B. Green, Esq.
Gumm & Green, LLP, Attorneys at Law
5743 Corsa Ave., Suite 111
Westlake Village, CA 91362
phone: 818 707 4233
fax: 818 707 4262
e-mail- Lindsey@gummandgreen.com
No, not unless the debtor cosigned.Dennis McGoldrick350 S. Crenshaw Bl., #A207BTorrance, CA 90503On Feb 22, 2010, at 10:32 AM, "lindseybgreen" <lindsey@gummandgreen.com> wrote:
Facts: Ch. 13 potential case where one spouse wants to file only. Filing spouse has $365,000 owing on 1st mortgage and $142,000 owing on junior mortgage. Filing spouse wants to file Lam motion as fmv on this residence is $350,000.
Non debtor spouse has 2 separate property residences acquired prior to marriage where title is in non debtor spouse's name alone. Thus, these 2 properties are non debtor spouse's separate property. No prenuptial agreement exists among the spouses. Non debtor spouse's 2 separate property residences have encumbrances of $310,000 and $460,000 respectively. This would put filing spouse above limit in Ch. 13 per 109(e) if these 2 separate property residence and their encumbrances were factored in for 109(e) purposes. Would court count non debtor spouse's separate property residence with encumbrances in a 109(e) analysis?
Thanx,
Lindsey B. Green, Esq.
Gumm & Green, LLP, Attorneys at Law
5743 Corsa Ave., Suite 111
Westlake Village, CA 91362
phone: 818 707 4233
fax: 818 707 4262
e-mail- Lindsey@gummandgreen.com
The post was migrated from Yahoo.
Facts: Ch. 13 potential case where one spouse wants to file only. Filing spouse has $365,000 owing on 1st mortgage and $142,000 owing on junior mortgage. Filing spouse wants to file Lam motion as fmv on this residence is $350,000.
Non debtor spouse has 2 separate property residences acquired prior to marriage where title is in non debtor spouse's name alone. Thus, these 2 properties are non debtor spouse's separate property. No prenuptial agreement exists among the spouses. Non debtor spouse's 2 separate property residences have encumbrances of $310,000 and $460,000 respectively. This would put filing spouse above limit in Ch. 13 per 109(e) if these 2 separate property residence and their encumbrances were factored in for 109(e) purposes. Would court count non debtor spouse's separate property residence with encumbrances in a 109(e) analysis?
Thanx,
Lindsey B. Green, Esq.
Gumm & Green, LLP, Attorneys at Law
5743 Corsa Ave., Suite 111
Westlake Village, CA 91362
phone: 818 707 4233
fax: 818 707 4262
e-mail- Lindsey@gummandgreen.com
The post was migrated from Yahoo.