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Exempt car using grubstake, avoid nonpossessory, nonpurch=
Seems remarkably similar to the ruling in In re Reaves, 256 B.R. 306 (2000), that also went up to the Court of Appeals.
Steven L. Bryson
Attorney at Law
Certified Bankruptcy Specialist
State Bar of California
Board of Legal Specialization
11377 W. Olympic Bl., Ste 500
Los Angeles, CA 90064
310-477-4555
www.file4bankruptcy.com
To: cdcbaa
Sent: Tue, Mar 5, 2013 5:29 pm
Subject: [cdcbaa] Exempt car using grubstake, avoid nonpossessory, nonpurchase money lien
9th Circuit rules in In re Garcia, a case coming out of CDCA, as such:
(1) a motor vehicle may fall within Californias wildcardan exempt vehicle is a tool of the debtors trade and is secured by a
nonpossessory, nonpurchase-money lien, then the debtor can avoid the
lien pursuant to 11 U.S.C. 522(f)(1)(B).
Opinion here:
The post was migrated from Yahoo.