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Homestead proceeds after sale of property
Is there a case on this issue because if I was a judge, I would hold that
the language in 703.140(a) overrides the language in 704.720(b).
I am specifically thinking of the last clause:
"(a) In a case under Title 11 of the United States Code, all of the
exemptions provided by this chapter, including the homestead exemption,
other than the provisions of subdivision (b) are applicable regardless of
whether there is a money judgment against the debtor or whether a money
judgment is being enforced by execution sale or any other procedure, but
the exemptions provided by subdivision (b) may be elected *in lieu* of all
other exemptions provided by this chapter, as follows"
It also just feels wrong for the legislature to have done that to people!
Sincerely,
*Michael Avanesian, Esq. *
Avanesian Law Firm
801 N. Brand Blvd., Suite #1130
Glendale, CA 91203
Tel: 818.276.2477 | Fax: 818.208.4550
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On Thu, Apr 21, 2016 at 7:46 AM, 'Stella Havkin' havkinlaw@earthlink.net
[cdcbaa] wrote:
>
>
> Yes.
>
>
>
> *From:* cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com]
> *Sent:* Thursday, April 21, 2016 7:43 AM
> *To:* cdcbaa@yahoogroups.com
> *Subject:* [cdcbaa] Homestead proceeds after sale of property
>
>
>
>
>
> Does the six month reinvestment requirement for a homestead exemption
> apply if the debtor uses the wildcard exemption instead to protect the
> proceeds from the sale of a home?
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>
> [image: New Professional Pic2]
>
> Shannon A. Doyle
>
> *Attorney | Virtual Bankruptcy Assistant*
>
> *Phone: 855-378-4080 *
>
> *Fax: 562-249-8435 *
>
> *Licensed in California*
>
> [image: PetitionPartnD05bR08aP01ZL-Madison8a]
>
>
> [image: http://pcmweb.net/devglobal/emaildev/eB ... img/fb.png]
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Is there a case on this issue because if I was a judge, I would hold that the language in 703.140(a) overrides the language in 704.720(b).I am specifically thinking of the last clause:"(a) In a case under Title 11 of the United States Code, all of the exemptions provided by this chapter, including the homestead exemption, other than the provisions of subdivision (b) are applicable regardless of whether there is a money judgment against the debtor or whether a money judgment is being enforced by execution sale or any other procedure, but the exemptions provided by subdivision (b) may be elected in lieu of all other exemptions provided by this chapter, as follows"It also just feels wrong for the legislature to have done that to people! Sincerely,Michael Avanesian, Esq.
The post was migrated from Yahoo.