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Right to exemption by non-filing separated wife
Giovanni,
Check out the attached tentative by Judge Bason. This was a situation
where H/W are joint tenants, but the analysis in the tentative may be
helpful to you.
Nina Javan
Margulies Faith, LLP
On Wed, Oct 14, 2015 at 12:50 PM, Giovanni Orantes go@gobklaw.com [cdcbaa] wrote:
>
>
> I have a potential client who has been separated from his wife for almost
> 10 years and lives in a different location. At that time, they refinanced
> their house and the wife, who resides in the house, has been the only one
> paying the mortgage on the house. Client is filing and has a little
> business to exempt with the 703 exemptions. Wife has a recorded homestead
> declaration on the property. Wife is not filing and doesn't really want
> anything to do with the potential client. If the property were sold by the
> Trustee, would the wife get her exempt amount pursuant to the homestead
> declaration even though husband is not using any exemption to exempt any
> equity on the property?
>
> --
> Giovanni Orantes, Esq.*
> Orantes Law Firm, P.C.
> 3435 Wilshire Blvd. Suite 2920
> Los Angeles, CA 90010
> Tel: (213) 389-4362
> Fax: (877) 789-5776
> e-mail: go@gobklaw.com
> website: www.gobklaw.com
>
> **Certified Bankruptcy Specialist, State Bar of California, Board of Legal
> Specialization*
> *Board Certified - Business Bankruptcy Law - American Board of
> Certification
> *Board Certified - Consumer Bankruptcy Law - American Board of
> Certification
> Commercial Litigation
> Estate Planning
> Outside General Counsel
>
>
>
> WE ARE A "DEBT RELIEF AGENCY" AS DEFINED BY FEDERAL LAW.
>
> SERVING BAKERSFIELD, LOS ANGELES, ORANGE COUNTY, RIVERSIDE, SAN BERNARDINO
> AND SANTA BARBARA AND THE WORLD FOR CHAPTER 11 AND 15 CASES.
>
>
>
Giovanni,Check out the attached tentative by Judge Bason. This was a situation where H/W are joint tenants, but the analysis in the tentative may be helpful to you. Nina JavanMargulies Faith, LLPOn Wed, Oct 14, 2015 at 12:50 PM, Giovanni Orantes go@gobklaw.com [cdcbaa] <cdcbaa@yahoogroups.com> wrote:
I have a potential client who has been separated from his wife for almost 10 years and lives in a different location.the house, has been the only one paying the mortgage on the house. Client is filing and has a little business to exempt with the 703 exemptions.ot filing and doesn't really want anything to do with the potential client. If the property were sold by the Trustee, would the wife get her exempt amount pursuant to the homestead declaration even though husband is not using any exemption to exempt any equity on the property?-- Giovanni Orantes, Esq.*Orantes Law Firm, P.C.3435 Wilshire Blvd. Suite 2920Los Angeles, CA 90010Tel: (213) 389-4362Fax: (877) 789-5776e-mail:
The post was migrated from Yahoo.
The first question is how much of the value is the wife's separate
property and how much is community. The next problem you face is that thepotential client does not have the right use the 703 exemptions without his wife's
written consent. See CCP 703.140(a)(2). Granted this provision is almostnever enforced in the Central District, but where there is a valuable asset
involved that would otherwise be exempt under the 704 exemptions, but is
not under the 703 exemptions, there will likely be an issue with the use of
the 703 exemption scheme.
Mark T. Jessee
Law Offices of Mark T. Jessee
"A Debt Relief Agency"
50 W. Hillcrest Drive, Suite 200
Thousand Oaks, CA 91360
(805) 497-5868 (805) 497-5864 (Facsimile)
NOTICE TO RECIPIENT: THIS E-MAIL IS MEANT FOR ONLY THE INTENDED RECIPIENTOF THE TRANSMISSION, AND THIS COMMUNICATION IS INTENDED TO BE PRIVILEGED BY
LAW. IF YOU RECEIVED THIS E-MAIL IN ERROR, ANY REVIEW, USE, DISSEMINATION,DISTRIBUTION, OR COPYING OF THIS E-MAIL IS STRICTLY PROHIBITED. PLEASE
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In a message dated 10/14/2015 12:50:52 P.M. Pacific Daylight Time,
cdcbaa@yahoogroups.com writes:
I have a potential client who has been separated from his wife for almost10 years and lives in a different location. At that time, they refinancedtheir house and the wife, who resides in the house, has been the only onepaying the mortgage on the house. Client is filing and has a little
business to exempt with the 703 exemptions. Wife has a recorded homesteaddeclaration on the property. Wife is not filing and doesn't really want anything
to do with the potential client. If the property were sold by the Trustee,would the wife get her exempt amount pursuant to the homestead declarationeven though husband is not using any exemption to exempt any equity on theproperty?
Giovanni Orantes, Esq.*
Orantes Law Firm, P.C.
3435 Wilshire Blvd. Suite 2920
Los Angeles, CA 90010
Tel: (213) 389-4362
Fax: (877) 789-5776
e-mail: _go@gobklaw.com_ (mailto:go@gobklaw.com)
website: _www.gobklaw.com_ (http://www.gobklaw.com/)
*Certified Bankruptcy Specialist, State Bar of California, Board of Legal Specialization
*Board Certified - Business Bankruptcy Law - American Board of
Certification
*Board Certified - Consumer Bankruptcy Law - American Board of
Certification
Commercial Litigation
Estate Planning
Outside General Counsel
WE ARE A "DEBT RELIEF AGENCY" AS DEFINED BY FEDERAL LAW.
SERVING BAKERSFIELD, LOS ANGELES, ORANGE COUNTY, RIVERSIDE, SAN BERNARDINOAND SANTA BARBARA AND THE WORLD FOR CHAPTER 11 AND 15 CASES.
The first question is how much of the value is thewife's separate property and how much is community. The next problem
you face is that the potential client does not have the right use the 703
exemptions without his wife's written consent. See CCP
703.140(a)(2). Granted this provision is almost never enforced in theCentral District, but where there is a valuable asset involved that
would otherwise be exempt under the 704 exemptions, but is not under the 703
exemptions, there will likely be an issue with the use of the 703 exemptionscheme.
Mark T.
JesseeLaw Offices of Mark T. Jessee"A Debt Relief Agency"50 W.Hillcrest Drive, Suite 200Thousand Oaks, CA 91360(805) 497-5868 (805)
497-5864 (Facsimile)NOTICE TO RECIPIENT: THIS E-MAIL IS MEANT FOR ONLY
THE INTENDED RECIPIENT OF THE TRANSMISSION, AND THIS COMMUNICATION IS INTENDED
TO BE PRIVILEGED BY LAW. IF YOU RECEIVED THIS E-MAIL IN ERROR, ANY REVIEW, USE,
DISSEMINATION, DISTRIBUTION, OR COPYING OF THIS E-MAIL IS STRICTLY PROHIBITED.
PLEASE NOTIFY US IMMEDIATELY OF THE ERROR BY RETURN E-MAIL AND PLEASE DELETE
THIS MESSAGE FROM YOUR SYSTEM. THANK YOU IN ADVANCE FOR YOUR COOPERATION
In a message dated 10/14/2015 12:50:52 P.M. Pacific Daylight Time,
cdcbaa@yahoogroups.com writes:
I have a potential client who has been separated from his wife
for almost 10 years and lives in a different location. At that time,
they refinanced their house and the wife, who resides in the house, has been
the only one paying the mortgage on the house. Client is filing and has
a little business to exempt with the 703 exemptions. Wife has a recorded
homestead declaration on the property. Wife is not filing and doesn't really
want anything to do with the potential client. If the property were sold by
the Trustee, would the wife get her exempt amount pursuant to the homestead
declaration even though husband is not using any exemption to exempt any equity on the property?
--
Giovanni Orantes, Esq.*
Orantes Law Firm, P.C.3435 Wilshire Blvd. Suite 2920Los Angeles,
CA 90010Tel: (213) 389-4362Fax: (877) 789-5776e-mail: go@gobklaw.comwebsite: www.gobklaw.com
*Certified
Bankruptcy Specialist, State Bar of California, Board of Legal
Specialization
*Board Certified - Business Bankruptcy Law - American Board
of Certification
*Board Certified - Consumer Bankruptcy Law - American Board
of Certification
Commercial Litigation
Estate Planning
Outside General Counsel
The post was migrated from Yahoo.
I have a potential client who has been separated from his wife for almost
10 years and lives in a different location. At that time, they refinanced
their house and the wife, who resides in the house, has been the only one
paying the mortgage on the house. Client is filing and has a little
business to exempt with the 703 exemptions. Wife has a recorded homestead
declaration on the property. Wife is not filing and doesn't really want
anything to do with the potential client. If the property were sold by the
Trustee, would the wife get her exempt amount pursuant to the homestead
declaration even though husband is not using any exemption to exempt any
equity on the property?
Giovanni Orantes, Esq.*
Orantes Law Firm, P.C.
3435 Wilshire Blvd. Suite 2920
Los Angeles, CA 90010
Tel: (213) 389-4362
Fax: (877) 789-5776
e-mail: go@gobklaw.com
website: www.gobklaw.com
**Certified Bankruptcy Specialist, State Bar of California, Board of Legal
Specialization*
*Board Certified - Business Bankruptcy Law - American Board of Certification
*Board Certified - Consumer Bankruptcy Law - American Board of Certification
Commercial Litigation
Estate Planning
Outside General Counsel
WE ARE A "DEBT RELIEF AGENCY" AS DEFINED BY FEDERAL LAW.
SERVING BAKERSFIELD, LOS ANGELES, ORANGE COUNTY, RIVERSIDE, SAN BERNARDINO
AND SANTA BARBARA AND THE WORLD FOR CHAPTER 11 AND 15 CASES.
I have a potential client who has been separated from his wife for almost 10 years and lives in a different location. At that time, they refinanced their house and the wife, who resides in the house, has been the only one paying the mortgage on the house. Client is filing and has a little business to exempt with the 703 exemptions. Wife has a recorded homestead declaration on the property. Wife is not filing and doesn't really want anything to do with the potential client. If the property were sold by the Trustee, would the wife get her exempt amount pursuant to the homestead declaration even though husband is not using any exemption to exempt any equity on the property?-- Giovanni Orantes, Esq.*Orantes Law Firm, P.C.3435 Wilshire Blvd. Suite 2920Los Angeles, CA 90010Tel: (213) 389-4362Fax: (877) 789-5776e-mail: go@gobklaw.comwebsite: www.gobklaw.com
The post was migrated from Yahoo.