Central District Consumer Bankruptcy Attorney's Association

At some point you need to consider a motion to compel abandonment section 554. I assume the debtor is servicing debt, insuring the property, maintaining the property at his expense. In response the trustee will point out that the debtor is getting the use of the property, and that is right, but if there has been not a single offer in three months, most judges will take seriously the motion to compel abandonment as the debtor need not live under the constant specter of losing his home. Do you know how long the trustee's listing agreement is with his broker? It's likely found in the employment application. If its six months, which is typical, you might have a tough go of it on a Motion to Compel Abandonment until the listing is expired. Practice tip: Read a motion to employ a broker if this comes up in your cases. I once had Ch. 7 trustee try to employ a broker with a 1 year listing. I called the trustee and said I would object to the application as to the duration, for just this reason. We agreed to six months, but I could have pressed for three months, I think.
Jeffrey B. Smith**
CURD, GALINDO & SMITH, L.L.P
301 East Ocean Blvd. #1700
Long Beach, CA 90802
(562) 624-1177
(562) 624-1178 fax
(310) 993-6560 cellular
www.expertbk.com
**Certified By The State Bar
Of California As A Specialist
In Bankruptcy Law
>
> The Trustee has to hire a broker with a motion to the court. The Trustee will usually only try to sell the property for a limited time (6 months). If the property does not sell the trustee will abandon. I would call the Trustee to confirm. At least this is my experience.>
>
>
>
> Law Office of Catherine Christiansen
> 17011 Beach Blvd. Ste 900, Huntington Beach, CA 92647
> Tel: (714) 375-6651 Fax: (562) 490-8572
> attorneychristiansen@...
>
>
>
>
>
> ________________________________
> To: cdcbaa@yahoogroups.com
> Sent: Monday, February 11, 2013 2:58 PM
> Subject: [cdcbaa] Chapter 7 - PC with assets question
>
>
>
> Hello:
>
> Question: May a Chapter 7 Trustee sell debtor's primary residence if the debtor listed his home as having no equity, provided trustee with appraisal that says no equity.... has listed it for three months and hasn't received an offer on the property?
>
> If there was a chance that Trustee could find a buyer greater than what was owed on the property, does the trustee have to make any motion to sell the property or can the trustee simply sign a purchase agreement and go?
>
> Would like to help this person not lose their home.
>
> --
> R. Grace Rodriguez, Esq.
> OFF: (818) 734-7223
> CEL: (818) 554-9922
>

The post was migrated from Yahoo.

Not sure if you've considered this, but the Trustee can also sell the home
subject to the liens. So all properties in a Chapter 7 should be fair game.
-Michael Avanesian
On Monday, February 11, 2013, Catherine Christiansen wrote:
> **
>
>
> The Trustee has to hire a broker with a motion to the court. The Trustee
> will usually only try to sell the property for a limited time (6 months).
> If the property does not sell the trustee will abandon. I would call the
> Trustee to confirm. At least this is my experience.
>
>
>
> Law Office of Catherine Christiansen
> 17011 Beach Blvd. Ste 900, Huntington Beach, CA 92647
> Tel: (714) 375-6651 Fax: (562) 490-8572
> attorneychristiansen@gmail.com 'attorneychristiansen@gmail.com');>
>
> * ***
> **
>
> ------------------------------
> *From:* R Grace Rodriguez >
> *To:* cdcbaa@yahoogroups.com 'cdcbaa@yahoogroups.com');>
> *Sent:* Monday, February 11, 2013 2:58 PM
> *Subject:* [cdcbaa] Chapter 7 - PC with assets question
>
>
> Hello:
>
> Question: May a Chapter 7 Trustee sell debtor's primary residence if the
> debtor listed his home as having no equity, provided trustee with appraisal
> that says no equity.... has listed it for three months and hasn't received
> an offer on the property?
>
> If there was a chance that Trustee could find a buyer greater than what
> was owed on the property, does the trustee have to make any motion to sell
> the property or can the trustee simply sign a purchase agreement and go?
>
> Would like to help this person not lose their home.
>
> --
> R. Grace Rodriguez, Esq.
> OFF: (818) 734-7223
> CEL: (818) 554-9922
>
>
>
>
>
>
Sincerely,
Michael Avanesian
Attorney and Counselor at Law
818-817-1725
Not sure if you've considered this, but the Trustee can also sell the home subject to the liens. So all properties in a Chapter 7 should be fair game.-Michael AvanesianOn Monday, February 11, 2013, Catherine Christiansen wrote:
The Trustee has to hire a broker with a motion to the court. The Trustee will usually only try to sell the property for a limited time (6 months). If the property does not sell the trustee will abandon. I would call the Trustee to confirm. At least this is my experience.

The post was migrated from Yahoo.

The Trustee has to hire a broker with a motion to the court. The Trustee will usually only try to sell the property for a limited time (6 months). If the property does not sell the trustee will abandon. I would call the Trustee to confirm. At least this is my experience.
Law Office of Catherine Christiansen
17011 Beach Blvd. Ste 900, Huntington Beach, CA 92647
Tel: (714) 375-6651 Fax: (562) 490-8572
attorneychristiansen@gmail.com
________________________________
To: cdcbaa@yahoogroups.com
Sent: Monday, February 11, 2013 2:58 PM
Subject: [cdcbaa] Chapter 7 - PC with assets question
Hello:
Question: May a Chapter 7 Trustee sell debtor's primary residence if the debtor listed his home as having no equity, provided trustee with appraisal that says no equity.... has listed it for three months and hasn't received an offer on the property?
If there was a chance that Trustee could find a buyer greater than what was owed on the property, does the trustee have to make any motion to sell the property or can the trustee simply sign a purchase agreement and go?
Would like to help this person not lose their home.
R. Grace Rodriguez, Esq.
OFF: (818) 734-7223
CEL: (818) 554-9922

The post was migrated from Yahoo.

Property sold by the trustee must be done by motion under 363. The trustee will sign a purchase agreement, which will become an exhibit to the sale motion.

The post was migrated from Yahoo.

The short answer to your first question is 'Yes.' If they feel there's
equity, they can hang a "For Sale" sign and see what offers come in.

As to the mechanics of your second question, I'm not sure a motion is
necessary but fairly sure the debtor has a duty to cooperate with the
administration of the estate.
_____

The post was migrated from Yahoo.

Hello:
Question: May a Chapter 7 Trustee sell debtor's primary residence if the
debtor listed his home as having no equity, provided trustee with appraisal
that says no equity.... has listed it for three months and hasn't received
an offer on the property?
If there was a chance that Trustee could find a buyer greater than what was
owed on the property, does the trustee have to make any motion to sell the
property or can the trustee simply sign a purchase agreement and go?
Would like to help this person not lose their home.
R. Grace Rodriguez, Esq.
OFF: (818) 734-7223
CEL: (818) 554-9922
Hello:Question: May a Chapter 7 Trustee sell debtor's primary residence if the debtor listed his home as having no equity, provided trustee with appraisal that says no equity.... has listed it for three months and hasn't received an offer on the property?
If there was a chance that Trustee could find a buyer greater than what was owed on the property, does the trustee have to make any motion to sell the property or can the trustee simply sign a purchase agreement and go?
Would like to help this person not lose their home.-- R. Grace Rodriguez, Esq.OFF: (818) 734-7223CEL: (818) 554-9922

The post was migrated from Yahoo.