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Overzealous Trustees
i have been looking at this question from the perspective of a debtor's
ability to avoid a foreclosure sale as a fraudulent transfer.
you might want to start by looking at DeMarah a 9th Circuit opinion.
3439.01 et seq. gives the power to avoid a fraudulent transfer within 4
years or within 1 year of discovery up to 7 years so i think your Trustee
will be able to rely upon that 1 year/7 year rule.
not sure why your client cares at this point - i assume that the transfer
may have been to someone the D still cares about - but if your client cares
enough, then consider using the wildcard exemption to foil the Trustee...
On Mon, Mar 11, 2013 at 9:11 AM, Arsen Pogosov wrote:
> **
>
>
> My dear Colleagues,
>
> I, like Paul Horn, have a little issue with my Trustee. Trustee is going
> after a property which my client transferred 5 years before filing her
> bankruptcy petition. Trustee is alleging fraudulent transfer.
>
> Trustee is arguing that the 4-year statute of limitations in 3439.09 has
> been extended because Debtor's credit card creditors did not have notice of
> the transfer.
>
> I am arguing that recordation of the grant deed transferring the property
> serves as notice to creditors of the transfer.
>
> Would anyone be willing to share with me a case number for a case in which
> they have dealt with a similar situation?
>
> Would anyone be willing to give me a lead on a case or two where the Court
> has held a recorded deed to give notice to creditors of a transfer?
>
> I would really appreciate some help with this, on- or off- list, and would
> consider it a big favor, worthy of reciprocity.
>
>
>
> Sincerely,
> Arsen Pogosov
>
>
>
i have been looking at this question from the perspective of a debtor's ability to avoid a foreclosure sale as a fraudulent transfer.you might want to start by looking at DeMarah a 9th Circuit opinion.
3439.01 et seq. gives the power to avoid a fraudulent transfer within 4 years or within 1 year of discovery up to 7 years so i think your Trustee will be able to rely upon that 1 year/7 year rule.
not sure why your client cares at this point - i assume that the transfer may have been to someone the D still cares about - but if your client cares enough, then consider using the wildcard exemption to foil the Trustee...
On Mon, Mar 11, 2013 at 9:11 AM, Arsen Pogosov <arsen.pogosov@hotmail.com> wrote:
My dear Colleagues,I, like Paul Horn, have a little issue with my Trustee. Trustee is going after a property which my client transferred 5 years before filing her bankruptcy petition. Trustee is alleging fraudulent transfer.
has been extended because Debtor's credit card creditors did not have notice of the transfer.I am arguing that recordation of the grant deed transferring the property serves as notice to creditors of the transfer.
which they have dealt with a similar situation?Would anyone be willing to give me a lead on a case or two where the Court has held a recorded deed to give notice to creditors of a transfer?
would consider it a big favor, worthy of reciprocity.Sincerely,Arsen Pogosov
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The post was migrated from Yahoo.
My dear Colleagues, I, like Paul Horn, have a little issue with my Trustee. Trustee is going after a property which my client transferred 5 years before filing her bankruptcy petition. Trustee is alleging fraudulent transfer. Trustee is arguing that the 4-year statute of limitations in 3439.09 has been extended because Debtor's credit card creditors did not have notice of the transfer. I am arguing that recordation of the grant deed transferring the property serves as notice to creditors of the transfer. Would anyone be willing to share with me a case number for a case in which they have dealt with a similar situation? Would anyone be willing to give me a lead on a case or two where the Court has held a recorded deed to give notice to creditors of a transfer? I would really appreciate some help with this, on- or off- list, and would consider it a big favor, worthy of reciprocity. Sincerely,Arsen Pogosov
The post was migrated from Yahoo.