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Marital settlement agreement treated as a fraudulent transfer?
The California Supreme Court case is Majia v. reed
Mejia v. Reed
74 P. 3d 166, 3 Cal. Rptr. 3d 390, 31 Cal. 4th - Cal: Supreme Danilo Reed (Husband) had an extramarital relationship with plaintiff Rhina Mejia that led to
the birth of a child. In a later divorce proceeding, Husband and Violeta Reed (Wife) entered into
a marital settlement agreement (MSA) under which Husband transferred all his interest in ...
Dennis McGoldrick, 350 S. Crenshaw Bl., #A207B, Torrance, Ca 90503 310-328-1001-voice
> On Sep 1, 2015, at 5:36 PM, Christine Kingston attorneychristine@gmail.com [cdcbaa] wrote:
>
> Yep....I have gotten a call or two in this very situation. Not pleasant indeed.
>
> Christine
>
> Christine A. Kingston, Esq.
> Law Office of Christine A. Kingston > 5011 Argosy Avenue, Suite 3
> Huntington Beach, CA 92649
> Office: 714-533-9210
> Fax: 714-489-8150
> Email: attorneychristine@gmail.com
> Blog: www.losangelesbankruptcylawmonitor.com
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>> On Mon, Aug 31, 2015 at 3:40 PM, Alik Segal listserv.inbox@gmail.com [cdcbaa] wrote:
>>
>> Prospective Debtor has a legal separation judgment from June 2013. In that judgment he give a condo with 300K equity to wife. There is no adjustment for debts.
>>
>> Now Debtor is having financial problems and wants to file chapter 7.
>>
>> 1. It is my understanding that such an uneven division is not immune from being treated, in a subsequent bankruptcy, like any other gift. If Debtor files chapter 7 will the trustee sue the wife for Debtor's share of 300K or to sell the property if the wife cannot pay 150K in cash.
>>
>> 2. If Debtor gets half of the house back and now owns 150K of equity. What happens if Debtor now files chapter 7 and exempts his half of the equity? Is it now protected from the trustee?
>>
>>
>>
>>
>> --
>> Alik Segal
>> Alik.Segal@gmail.com
>> 310-362-6157
>> California Central District
>
>
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The post was migrated from Yahoo.
Yep....I have gotten a call or two in this very situation. Not pleasant
indeed.
Christine
Christine A. Kingston, Esq.
Law Office of Christine A. Kingston
5011 Argosy Avenue, Suite 3
Huntington Beach, CA 92649
Office: 714-533-9210
Fax: 714-489-8150
Email: attorneychristine@gmail.com
Blog: www.losangelesbankruptcylawmonitor.com
The post was migrated from Yahoo.
Prospective Debtor has a legal separation judgment from June 2013. In that
judgment he give a condo with 300K equity to wife. There is no adjustment
for debts.
Now Debtor is having financial problems and wants to file chapter 7.
1. It is my understanding that such an uneven division is not immune from
being treated, in a subsequent bankruptcy, like any other gift. If Debtor
files chapter 7 will the trustee sue the wife for Debtor's share of 300K or
to sell the property if the wife cannot pay 150K in cash.
2. If Debtor gets half of the house back and now owns 150K of equity. What
happens if Debtor now files chapter 7 and exempts his half of the equity?
Is it now protected from the trustee?
Alik Segal
Alik.Segal@gmail.com
310-362-6157
California Central District
Prospective Debtor has a legal separation judgment from June 2013. In that judgment he give a condo with 300K equity to wife. There is no adjustment for debts.Now Debtor is having financial problems and wants to file chapter 7. 1. It is my understanding that such an uneven division is not immune from being treated, in a subsequent bankruptcy, like any other gift. If Debtor files chapter 7 will the trustee sue the wife for Debtor's share of 300K or to sell the property if the wife cannot pay 150K in cash.2. If Debtor gets half ofthe house back and now owns 150K of equity. What happens if Debtor now files chapter 7 and exempts his half of the equity? Is it now protected from the trustee?-- Alik SegalAlik.Segal@gmail.com310-362-6157California Central District
The post was migrated from Yahoo.