conversion 13 to 7; valuation of house

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The value is the price the Chapter 7 can obtain from an interested buyer.

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Yahoo Bot
Posts: 22904
Joined: Sun Oct 18, 2020 11:38 pm


The trustee will look at the value on the date of conversion. Any increase
in the value does not belong to the debtor.
Stella Havkin

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Yahoo Bot
Posts: 22904
Joined: Sun Oct 18, 2020 11:38 pm


When converting from 13 to 7 is the value of a house in the chapter 7
determined as of the date of the filing of the 13 or as of the date of
conversion?
Thanks,
Kirk Brennan
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When converting from 13 to 7 is the value of a house in the chapter
7 determined as of the date of the filing of the 13 or as of the date
of conversion?Thanks,-- Kirk BrennanCONFIDENTIALITY NOTICE: This e-mail and any attachments are for the exclusive and confidential use of the intended recipient. If you are not the intended recipient, please do not read, distribute or take action in reliance on this message. If you have received this message in error, please notify us immediately by return e-mail and promptly delete this message and its attachments from your computer system. We do not waive attorney-client or work product privilege by the transmission of this message.
TAX ADVICE NOTICE: Tax advice, if any, contained in this e-mail does not constitute a "reliance opinion" as defined in IRS Circular 230 and may not be used to establish reasonable reliance on the opinion of counsel for the purpose of avoiding the penalty imposed by Section 6662A of the Internal Revenue Code. The firm provides reliance opinions only in formal opinion letters containing the signature of a director.

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