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Question re: Property of the Estate
Given that CC 1590 contemplates a monetary recovery, my guess is that the ring is property of the debtor'sestate and that the donor has a claim against the estate.Peter M. Lively, J.D., M.B.A.
Law Office of Peter M. Lively * Personal Financial Law Center I
11268 Washington Boulevard, Suite 203, Culver City, California 90230-4647
Telephone: (310) 391-2400* Toll Free: (800) 307-3328 * Fax: (310) 391-2462
On Monday, June 29, 2015 6:58 PM, "Michael Avanesian michael@avanesianlaw.com [cdcbaa]" wrote:
Hello.
What is your opinion on whether a conditional gift is property of the Estate if the condition subsequent is not satisfied?
The actual facts are an engagement gift was given from man to woman on the condition that she would marry man. Woman files for bankruptcy and tells man she will not marry him.
Civ Code 1590 says, "Where either party to a contemplated marriage in this State makes a gift of money or property to the other on the basis or assumption that the marriage will take place, in the event that the donee refuses to enter into the marriage as contemplated or that it is given up by mutual consent, the donor may recover such gift or such part of its value as may, under all of the circumstances of the case, be found by a court or jury to be just."
Alternatively and assuming the same facts as above. Could this be characterized as an executory contract? Both parties must still perform or marriage is void. If so, then what about application of Section 365(c) which, my understanding is, makes contracts for personal services unassumable.
Sincerely,
Michael Avanesian, Esq.Simon Resnik Hayes, LLP15233 Ventura Blvd., Suite 250
Sherman Oaks, CA 91403Tel: 818.783.6251 | Cel: 818.817.1725
Confidentiality:This electronic transmission and its contents are legally privileged and confidential information and intended solely for the use of the addressee. If the reader of this message is not the intended recipient, you are hereby notified that any dissemination, distribution, copying or other use of this message and its contents is strictly prohibited. If you have received this transmission in error, please reply to us immediately and delete this message from your directory.IRS Circular 230 Disclosure:To ensure compliance with requirements imposed by the IRS, please be advised that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used or relied upon, and cannot be used or relied upon, for the purpose of (i) avoiding penalties under the Internal Revenue Code, or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.
The post was migrated from Yahoo.
Hello.
What is your opinion on whether a conditional gift is property of the
Estate if the condition subsequent is not satisfied?
The actual facts are an engagement gift was given from man to woman on the
condition that she would marry man. Woman files for bankruptcy and tells
man she will not marry him.
Civ Code 1590 says, "Where either party to a contemplated marriage in this
State makes a gift of money or property to the other on the basis or
assumption that the marriage will take place, in the event that the donee
refuses to enter into the marriage as contemplated or that it is given up
by mutual consent, the donor may recover such gift or such part of its
value as may, under all of the circumstances of the case, be found by a
court or jury to be just."
Alternatively and assuming the same facts as above. Could this be
characterized as an executory contract? Both parties must still perform or
marriage is void. If so, then what about application of Section 365(c)
which, my understanding is, makes contracts for personal services
unassumable.
Sincerely,
*Michael Avanesian, Esq. *
Simon Resnik Hayes, LLP
15233 Ventura Blvd., Suite 250
Sherman Oaks, CA 91403
Tel: 818.783.6251 | Cel: 818.817.1725
*Confidentiality**: *This electronic transmission and its contents are
legally privileged and confidential information and intended solely for the
use of the addressee. If the reader of this message is not the intended
recipient, you are hereby notified that any dissemination, distribution,
copying or other use of this message and its contents is strictly
prohibited. If you have received this transmission in error, please reply
to us immediately and delete this message from your directory.
*IRS Circular 230 Disclosure:* To ensure compliance with requirements
imposed by the IRS, please be advised that any U.S. federal tax advice
contained in this communication (including any attachments) is not intended
or written to be used or relied upon, and cannot be used or relied upon,
for the purpose of (i) avoiding penalties under the Internal Revenue Code,
or (ii) promoting, marketing or recommending to another party any
transaction or matter addressed herein.
Hello.What is your opinion on whether a conditional gift is property of the Estate if the condition subsequent is not satisfied?The actual facts are an engagement gift was given from man to woman on the condition that she would marry man. Woman files for bankruptcy and tells man she will not marry him.Civ Code 1590 says, "Where either party to a contemplated marriage in this State makes a gift of money or property to the other on the basis or assumption that the marriage will take place, in the event that the donee refuses to enter into the marriage as contemplated or that it is given up by mutual consent, the donor may recover such gift or such part of its value as may, under all of the circumstances of the case, be found by a court or jury to be just."Alternatively and assuming the same facts as above. Could this be characterized as an executory contract? Both parties must still perform or marriage is void. If so, then what about application of Section 365(c) which, my understanding is, makes contracts for personal services unassumable.
The post was migrated from Yahoo.