Ch. 7 debtor has title but not on loan to real property - related questions
Posted: Thu Feb 27, 2014 8:24 pm
Stephen:
you file bk and create an estate. The estate owns all of the property of the debtor and must list all of the liens against the property of the estate. It is the estate for which you are filing schedules, not the lady who got the property in a msa. So, it matters not, that the debtor does not have a debtor/creditor relationship with the lienholders. The property becomes property of the estate and the estate property has liens upon it. You must list all of the liens.
The debtor gets to claim exemptions, but search lien removal for liens which existed prior to the debtor taking title.
d
Dennis McGoldrick, 350 S. Crenshaw Bl., #A207B, Torrance, Ca 90503 310-328-1001-voice
> On Feb 27, 2014, at 2:41 PM, wrote:
>
> Debtor received title to house and responsibility for loan until she can get the loan transferred (or new loan) into her name per marital settlement agreement. Does the MSA create a creditor-debtor relationship with the mortgagor though she is not a party to the loan docs for purposes of listing the mortgagor as a creditor in her petition. Moreover, do we determine equity, if any, in the real property as if she was party to the home loans and any liens against the property. Lastly, can she avoid a lien against the real property and use the homestead exemption to avoid the lien if she is not a party to the home loans?
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> Thanks,
>
> Stephen Stern
> Law Office of Stephen M. Stern, PLC
> 1026 Palm Street, Suite 215
> San Luis Obispo, CA 93401
> (805) 543-5297
>
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