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Homestead Exemption Proceeds and 6 months
6 months is tolled.
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.
t_mannis
Sent: Wednesday, March 03, 2010 2:13 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] Homestead Exemption Proceeds and 6 months
Question is:
Husband and wife are divorcing. One if not both are potential clients. They
sold house in June 2009. Per court order in the family law court, proceeds
are placed in a trust account to be held pending the conclusion of that
case. OK, here we are nine months later, clearly beyond the six months after
sale period. Does the fact that the court ordered the funds put into an
account, and they were not distributed, does that toll the six month period,
or have those proceeds clearly lost their exempt status?
Todd Mannis, Esq.
Message
6 months is
tolled.
David A.
Tilem
Certified Bankruptcy
Specialist*
The post was migrated from Yahoo.
Question is:
Husband and wife are divorcing. One if not both are potential clients. They sold house in June 2009. Per court order in the family law court, proceeds are placed in a trust account to be held pending the conclusion of that case. OK, here we are nine months later, clearly beyond the six months after sale period. Does the fact that the court ordered the funds put into an account, and they were not distributed, does that toll the six month period, or have those proceeds clearly lost their exempt status?
Todd Mannis, Esq.
The post was migrated from Yahoo.