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Motion to Sell Residence in Chapter 13 and Disposition of Proceeds
My client wants to sell her house and move out of state, which I have to
believe she can do while in Chapter 13. However, the way the mandatory
form reads, at part 5, listed verbatim below, without the boxes, she has
no choice but to turn over the funds, unless I can just skip box 5
altogether. That is scary because if the judge doesn't approve it on a
9013 no hearing then I'm really holding up escrow. And she certainly
will not want the funds handed over to the Chapter 13 Trustee.
Because of the boom in the market lately she has a lot more equity than
when she filed the case, but that all goes to her, not her creditors, so
I don't see why she cannot use the funds for a new residence. I don't
want to change the plan at all, just take the home equity and use it
elsewhere.
Am I missing something?
Steven B. Lever
5. (a) The chapter 13 trustee is hereby authorized to make demand upon
escrow for sufficient funds to pay off the Plan with a:
100% dividend to unsecured creditors; OR
% divided as indicated in the confirmed plan.
After escrow's payment of the encumbrances listed above, any remaining
funds shall be paid directly to debtor.
Law Offices of Steven B. Lever
>
> Steven B. Lever
>( Tel. (562) 436-5456 ext. 1
>( Fax (562) 485-6886
>* sblever@leverlaw.com
> www.leverlaw.com
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