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Recording deed of trust 7 days prior to chapter 13
Pat,
The recording is the operative transfer date not the execution of the trust deed. You are correct that as between the two parties, the trust deed was valid, however the recordation puts third parties on notice. The chapter 7 trustee would be a third party. When avoiding transfers, I always use the recordation date.
Sent from my iPhone
On May 7, 2016, at 7:14 PM, Patrick Green pat@fitzgreenlaw.com [cdcbaa] wrote:
My leaving the office late Saturday afternoon thoughts:
The transaction was complete five years ago. As Desiree said, all the elements are there. Recording is notice to the world of the lien and creates priority vis a vis other secured creditors. I cannot see how the recording is a transfer for the purposes of 547.
If it had not been recorded, the trustee would have priority over the creditor under 544(a)(3).
If you have any questions or concerns, please contact me.
Pat
Patrick T. Green
Attorney at Law
Fitzgerald & Green, Attorneys at Law
1010 E. Union St. Suite 206
Pasadena, CA 91106
Tel: (626) 449-8433
Fax: (626) 449-0565
pat@fitzgreenlaw.com
The post was migrated from Yahoo.
That's why there is no ordinary course defense. They blew it. They have bettered themselves and taken security as opposed to being unsecured. Since trustee is likely going to include in liquidation analysis, (but won't take action), I have prosecuted these as preferences and recovered them for the benefit of the estate. You should discount administrative attorney fees in prosecuting the action and pay yourself (subject to court approval) for doing it on behalf of all creditors.
Very truly yours,
Shai Oved
The Law Offices of Shai Oved
7445 Topanga Cyn. Blvd., Suite 220
Canoga Park, California 91303
Tel: (818) 992-6588
Fax: (818) 992-6511
Email: ssoesq@aol.com
www.shaioved.com
________________
The information contained in this email is intended only for the individual or entity named above and may contain attorney privileged and confidential information. If the reader of this message is not the intended recipient, you are hereby notified that any dissemination, distribution, or copy of this communication is strictly prohibited. If you received this communication in error, please immediately notify us by the telephone number above and return any hard copies to us via the postal service.. The Law Offices of Shai Oved is a debt relief agency which helps people file for bankruptcy under the Bankruptcy Code. Shai Oved is a Certified Bankruptcy Law Specialist by The State Bar of California Board of Legal Specialization.
Sent from my iPhone
> On May 7, 2016, at 5:14 PM, Patrick Green pat@fitzgreenlaw.com [cdcbaa] wrote:
>
> My leaving the office late Saturday afternoon thoughts:
>
>
>
> The transaction was complete five years ago. As Desiree said, all the elements are there. Recording is notice to the world of the lien and creates priority vis a vis other secured creditors. I cannot see how the recording is a transfer for the purposes of 547.
>
>
>
> If it had not been recorded, the trustee would have priority over the creditor under 544(a)(3).
>
>
>
> If you have any questions or concerns, please contact me.
>
>
>
> Pat
>
>
>
> Patrick T. Green
>
> Attorney at Law
>
> Fitzgerald & Green, Attorneys at Law
>
> 1010 E. Union St. Suite 206
>
> Pasadena, CA 91106
>
> Tel: (626) 449-8433
>
> Fax: (626) 449-0565
>
> pat@fitzgreenlaw.com
>
>
>
>
>
> Sent: Saturday, May 07, 2016 7:24 AM
> To: cdcbaa@yahoogroups.com
> Subject: Re: [cdcbaa] Recording deed of trust 7 days prior to chapter 13
>
>
>
>
>
> Is there an argument to be made that it is not a Preference? As I recall the facts from earlier emails, the deed of trust was signed and delivered 5 years ago and just recorded the week before the bankruptcy.
>
>
>
> Is there evidence that the parties have treated the loan as a secured loan for the last five years? Have payments been made, and corresponding tax deductions been made. I haven't looked at the law in California for a number of years, but I recall that the recording of the document is not definitive and that signing and during delivery of the document provided certain protections for the secured lender even though the recording did not take place.
>
> Desiree Causey
>
> 7755 Center Avenue, Suite 1100
>
> Huntington Beach, CA 92647
>
> 714-372-2225
>
> Sent from my iPad
>
>
> On May 7, 2016, at 7:05 AM, Larry Simons larry@lsimonslaw.com [cdcbaa] wrote:
>
>
>
> In a chapter 13, the preferential transfer figures into the liquidation analysis--what would creditors receive in a chapter 7
>
> Sent from my iPhone
>
>
> On May 7, 2016, at 2:43 AM, Roland Kedikian rolandk_98@yahoo.com [cdcbaa] wrote:
>
>
>
> yes but 547 is trustee powers. And yes this creditor will get more if treated as secured after the transfer.
>
> So Do i bring it to the chapter 13 trustee's attention.?? or I have to bring an AP.
>
> thank you Roland
>
>
>
> On 5/6/2016 10:46 PM, Shai Oved ssoesq@aol.com [cdcbaa] wrote:
>
>
>
> It may be a preference if now receiving more than a general unsecured claim. See 547.
>
> Very truly yours,
> Shai Oved
> The Law Offices of Shai Oved
> 7445 Topanga Cyn. Blvd., Suite 220
> Canoga Park, California 91303
> Tel: (818) 992-6588
> Fax: (818) 992-6511
> Email: ssoesq@aol.com
> www.shaioved.com
> ________________
>
>
>
>
>
>
>
>
The post was migrated from Yahoo.
Is there an argument to be made that it is not a Preference? As I recall the facts from earlier emails, the deed of trust was signed and delivered 5 years ago and just recorded the week before the bankruptcy.
Is there evidence that the parties have treated the loan as a secured loan for the last five years? Have payments been made, and corresponding tax deductions been made. I haven't looked at the law in California for a number of years, but I recall that the recording of the document is not definitive and that signing and during delivery of the document provided certain protections for the secured lender even though the recording did not take place.
Desiree Causey
7755 Center Avenue, Suite 1100
Huntington Beach, CA 92647
714-372-2225
Sent from my iPad
> On May 7, 2016, at 7:05 AM, Larry Simons larry@lsimonslaw.com [cdcbaa] wrote:
>
> In a chapter 13, the preferential transfer figures into the liquidation analysis--what would creditors receive in a chapter 7
>
> Sent from my iPhone
>
> On May 7, 2016, at 2:43 AM, Roland Kedikian rolandk_98@yahoo.com [cdcbaa] wrote:
>
>>
>> yes but 547 is trustee powers. And yes this creditor will get more if treated as secured after the transfer.
>> So Do i bring it to the chapter 13 trustee's attention.?? or I have to bring an AP.
>> thank you Roland
>>
>>> On 5/6/2016 10:46 PM, Shai Oved ssoesq@aol.com [cdcbaa] wrote:
>>>
>>> It may be a preference if now receiving more than a general unsecured claim. See 547.
>>>
>>> Very truly yours,
>>> Shai Oved
>>> The Law Offices of Shai Oved
>>> 7445 Topanga Cyn. Blvd., Suite 220
>>> Canoga Park, California 91303
>>> Tel: (818) 992-6588
>>> Fax: (818) 992-6511
>>> Email: ssoesq@aol.com
>>> www.shaioved.com
>>> ________________
>>>
>>>
>
>
The post was migrated from Yahoo.
In a chapter 13, the preferential transfer figures into the liquidation analysis--what would creditors receive in a chapter 7
Sent from my iPhone
On May 7, 2016, at 2:43 AM, Roland Kedikian rolandk_98@yahoo.com [cdcbaa] wrote:
yes but 547 is trustee powers. And yes this creditor will get more if treated as secured after the transfer.
So Do i bring it to the chapter 13 trustee's attention.?? or I have to bring an AP.
thank you Roland
On 5/6/2016 10:46 PM, Shai Oved ssoesq@aol.com [cdcbaa] wrote:
It may be a preference if now receiving more than a general unsecured claim. See 547.
Very truly yours,
Shai Oved
The Law Offices of Shai Oved
7445 Topanga Cyn. Blvd., Suite 220
Canoga Park, California 91303
Tel: (818) 992-6588
Fax: (818) 992-6511
Email: ssoesq@aol.com
www.shaioved.com
________________
In a chapter 13, the preferential transfer figures into the liquidation analysis--what would creditors receive in a chapter 7
Sent from my iPhone
On May 7, 2016, at 2:43 AM, Roland Kedikian
rolandk_98@yahoo.com [cdcbaa] <cdcbaa@yahoogroups.com> wrote:
yes but 547 is trustee powers. And yes this creditor will get more if treated as secured after the transfer.
So Do i bring it to the chapter 13 trustee's attention.?? or I have to bring an AP.
thank you Roland
On 5/6/2016 10:46 PM, Shai Oved
ssoesq@aol.com [cdcbaa] wrote:
The post was migrated from Yahoo.
yes but 547 is trustee powers. And yes this creditor will get more if
treated as secured after the transfer.
So Do i bring it to the chapter 13 trustee's attention.?? or I have to
bring an AP.
thank you Roland
On 5/6/2016 10:46 PM, Shai Oved ssoesq@aol.com [cdcbaa] wrote:
> It may be a preference if now receiving more than a general unsecured
> claim. See 547.
>
> Very truly yours,
> Shai Oved
> The Law Offices of Shai Oved
> 7445 Topanga Cyn. Blvd., Suite 220
> Canoga Park, California 91303
> Tel: (818) 992-6588
> Fax: (818) 992-6511
> Email: ssoesq@aol.com
> www.shaioved.com
> ________________
>
>
The post was migrated from Yahoo.
It may be a preference if now receiving more than a general unsecured claim. See 547.
Very truly yours,
Shai Oved
The Law Offices of Shai Oved
7445 Topanga Cyn. Blvd., Suite 220
Canoga Park, California 91303
Tel: (818) 992-6588
Fax: (818) 992-6511
Email: ssoesq@aol.com
www.shaioved.com
________________
The information contained in this email is intended only for the individual or entity named above and may contain attorney privileged and confidential information. If the reader of this message is not the intended recipient, you are hereby notified that any dissemination, distribution, or copy of this communication is strictly prohibited. If you received this communication in error, please immediately notify us by the telephone number above and return any hard copies to us via the postal service.. The Law Offices of Shai Oved is a debt relief agency which helps people file for bankruptcy under the Bankruptcy Code. Shai Oved is a Certified Bankruptcy Law Specialist by The State Bar of California Board of Legal Specialization.
Sent from my iPhone
> On May 6, 2016, at 10:39 PM, Roland Kedikian rolandk_98@yahoo.com [cdcbaa] wrote:
>
> Client had given a 2nd deed of trust on his home 5 years ago and was
> making payments and the deed of trust was not recorded.
>
> 1 week prior to filing chapter 13, creditor suspected something and
> recorded the deed of trust.
>
> Chapter 13 was filed 7 days after the recording.
>
> Any basis to treat the recently recorded deed of trust other than as a
> secured debt?
>
> thank you
>
> roland kedikian
>
> 220 S. Kenwood st. Ste 310
>
> Glendale CA 91205
>
>
The post was migrated from Yahoo.
Client had given a 2nd deed of trust on his home 5 years ago and was
making payments and the deed of trust was not recorded.
1 week prior to filing chapter 13, creditor suspected something and
recorded the deed of trust.
Chapter 13 was filed 7 days after the recording.
Any basis to treat the recently recorded deed of trust other than as a
secured debt?
thank you
roland kedikian
220 S. Kenwood st. Ste 310
Glendale CA 91205
The post was migrated from Yahoo.