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Partition by Sale in Ch13?
I will assume all non bk alternatives have been explored. I don't know the
Chapter 13 answer except to say that *maybe* you can ask the Court for sale
under 105. When I saw this fact pattern I immediately thought Chapter 7 or
(IMO) the cheaper route (Chapter 11).
I am a big believer that if the attorney knows what he's doing, liquidation
under Chapter 11 is usually less expensive for the Debtor than under
Chapter 7 (assuming all creditors are going to be paid). A Chapter 7
trustee hires an attorney, files preference actions, sales under 363 etc.
All of these things can be done in a Chapter 11 except the Debtor has
control AND trustee's fees are avoided.
Sincerely,
Michael Avanesian
Law Offices of David A. Tilem
www.tilemlaw.com
818-507-6000
On Fri, Oct 18, 2013 at 7:07 PM, Jeffrey Hsu wrote:
> **
>
>
> Say you have a client (wife) who wants to file ch13 without her husband.
> They are both on the deed to their house as joint tenants and are on bad
> terms. Husband wont sell and doesnt care if any equity is recovered.
> Wife wants to salvage the situation and get as much out of her interest in
> the property to benefit the estate. She believes the sale would generate
> enough non-exempt equity to repay creditors. ****
>
> ** **
>
> While 1303 gives the Ch13 Debtor certain rights and powers under
> 363(b),(d),(e),(f), and(l), it does not grant a 363(h) right. What can the
> wife realistically do? Assuming they will divorce, could she seek relief
> from 362(b)(2)(A)(iv) to determine property divisions and get the sale
> completed through family law court? Is there a better alternative in or
> out of BK?****
>
> ** **
>
> *Jeffrey Hsu, Esq. | JCH Law Firm*
>
> *1031 S. Garfield Ave. | Alhambra, CA 91801*
>
> *Phone & Fax: 626-999-5959*
>
> jhsu@jchfirm.com | www.jchfirm.com****
>
> ** **
>
> CONFIDENTIALITY NOTICE: This e-mail message is intended only for the
> person or entity to which it is addressed. It may contain information
> protected by the attorney-client privilege, work-product doctrine, or other
> privileges. Any unauthorized review, use, disclosure or distribution is
> prohibited. If you are not the intended recipient, please contact the
> sender by reply email and destroy all copies of the original message. If
> you are the intended recipient but do not wish to receive communications
> through this medium, please so advise the sender immediately.****
>
> ** **
>
>
>
I will assume all non bk alternatives have been explored. I don't know the Chapter 13 answer except to say that *maybe* you can ask the Court for sale under 105. When I saw this fact pattern I immediately thought Chapter 7 or (IMO) the cheaper route (Chapter 11).
I am a big believer that if the attorney knows what he's doing, liquidation under Chapter 11 is usually less expensive for the Debtor than under Chapter 7 (assuming all creditors are going to be paid). A Chapter 7 trustee hires an attorney, files preference actions, sales under 363 etc. All of these things can be done in a Chapter 11 except the Debtor has control AND trustee's fees are avoided.
Sincerely, Michael AvanesianLaw Offices of David A. Tilemwww.tilemlaw.com
818-507-6000
On Fri, Oct 18, 2013 at 7:07 PM, Jeffrey Hsu <jhsu@jchfirm.com> wrote:
Say you have a client (wife) who wants to file ch13 without her husband. They are both on the deed to their house as joint tenants and are on bad terms. Husband wont sell and doesnt care if any equity is recovered. Wife wants to salvage the situation and get as much out of her interest in the property to benefit the estate. She believes the sale would generate enough non-exempt equity to repay creditors.
While 1303 gives the Ch13 Debtor certain rights and powers under 363(b),(d),(e),(f), and(l), it does not grant a 363(h) right. What can the wife realistically do? Assuming they will divorce, could she seek relief from 362(b)(2)(A)(iv) to determine property divisions and get the sale completed through family law court? Is there a better alternative in or out of BK?
Jeffrey Hsu, Esq. | JCH Law Firm1031 S. Garfield Ave. | Alhambra, CA 91801
Phone & Fax: 626-999-5959jhsu@jchfirm.com | www.jchfirm.com
CONFIDENTIALITY NOTICE: This e-mail message is intended only for the person or entity to which it is addressed. It may contain information protected by the attorney-client privilege, work-product doctrine, or other privileges. Any unauthorized review, use, disclosure or distribution is prohibited. If you are not the intended recipient, please contact the sender by reply email and destroy all copies of the original message. If you are the intended recipient but do not wish to receive communications through this medium, please so advise the sender immediately.
The post was migrated from Yahoo.
To: cdcbaa@yahoogroups.com
X-Yahoo-Newman-Id: groups-system
Say you have a client (wife) who wants to file ch13 without her husband.
They are both on the deed to their house as joint tenants and are on bad
terms. Husband won't sell and doesn't care if any equity is recovered.
Wife wants to salvage the situation and get as much out of her interest in
the property to benefit the estate. She believes the sale would generate
enough non-exempt equity to repay creditors.
While 1303 gives the Ch13 Debtor certain rights and powers under
363(b),(d),(e),(f), and(l), it does not grant a 363(h) right. What can the
wife realistically do? Assuming they will divorce, could she seek relief
from 362(b)(2)(A)(iv) to determine property divisions and get the sale
completed through family law court? Is there a better alternative in or
out of BK?
Jeffrey Hsu, Esq. | JCH Law Firm
1031 S. Garfield Ave. | Alhambra, CA 91801
Phone & Fax: 626-999-5959
jhsu@jchfirm.com |
www.jchfirm.com
CONFIDENTIALITY NOTICE: This e-mail message is intended only for the person
or entity to which it is addressed. It may contain information protected by
the attorney-client privilege, work-product doctrine, or other privileges.
Any unauthorized review, use, disclosure or distribution is prohibited. If
you are not the intended recipient, please contact the sender by reply email
and destroy all copies of the original message. If you are the intended
recipient but do not wish to receive communications through this medium,
please so advise the sender immediately.
The post was migrated from Yahoo.
X-Yahoo-Newman-Id: groups-system
Say you have a client (wife) who wants to file ch13 without her husband.
They are both on the deed to their house as joint tenants and are on bad
terms. Husband won't sell and doesn't care if any equity is recovered.
Wife wants to salvage the situation and get as much out of her interest in
the property to benefit the estate. She believes the sale would generate
enough non-exempt equity to repay creditors.
While 1303 gives the Ch13 Debtor certain rights and powers under
363(b),(d),(e),(f), and(l), it does not grant a 363(h) right. What can the
wife realistically do? Assuming they will divorce, could she seek relief
from 362(b)(2)(A)(iv) to determine property divisions and get the sale
completed through family law court? Is there a better alternative in or
out of BK?
Jeffrey Hsu, Esq. | JCH Law Firm
1031 S. Garfield Ave. | Alhambra, CA 91801
Phone & Fax: 626-999-5959
jhsu@jchfirm.com |
www.jchfirm.com
CONFIDENTIALITY NOTICE: This e-mail message is intended only for the person
or entity to which it is addressed. It may contain information protected by
the attorney-client privilege, work-product doctrine, or other privileges.
Any unauthorized review, use, disclosure or distribution is prohibited. If
you are not the intended recipient, please contact the sender by reply email
and destroy all copies of the original message. If you are the intended
recipient but do not wish to receive communications through this medium,
please so advise the sender immediately.
The post was migrated from Yahoo.