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Plan Terms that Change Title to Real Property
I just read Judge Johnson's new Chapter 13 Standing Order. Thank you, Erik, for providing that document. I do not practice in Riverside, but the judge obviously put a lot of thought and effort into that order.
One part struck me as having possibilities for our chapter 13 plans. His section on surrendering assets (F starting on page 15) makes a lot of sense to me. So, I wonder if we could add provisions like these:
1. Upon confirmation, the automatic stay regarding [the real property being surrendered] will automatically terminate.
2. Upon confirmation, deed and title to [the real property being surrendered] will automatically transfer to the first mortgage holder without any further order of the court.
3. Upon confirmation, all fiscal/physical responsibility for [the real property being surrendered] becomes the responsibility of the first mortgage holder without further order of the court.
This might solve the problem some debtors have with HOA's post-petition.
What do you think?
Vernon L. Ellicott, Esq.
Certified Family Law Specialist
California State Bar Board of Legal Specialization
A Bankruptcy and Family Law Firm
Law Offices of Vernon L. Ellicott
100 E. Thousand Oaks Blvd., Suite 147
Thousand Oaks, CA 91360-8125
(805) 446-6262 Phone
(661) 222-2922 Phone
(805) 446-6264 Fax
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