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Avoidance of Transfer
Posted: Mon Aug 13, 2012 12:24 pm
by Yahoo Bot
You will either have an exemption fight if you file a Chapter 7, or you
need to file a reorganization chapter, preferably a 13 if she qualifies.
Then you'll have to file the suit with all its attendant costs. A lot
to take on.
Steven B. Lever
The post was migrated from Yahoo.
Avoidance of Transfer
Posted: Mon Aug 13, 2012 11:08 am
by Yahoo Bot
Dear listmates:
I have a PC who had equity in her home of over 75,000 which we could have used CCP704 to protect. However, without advice of counsel, she transferred the house (with equity) back to the bank through deed in lieu of forelosure. When I asked her why she did not consult with counsel before the transfer, she told me that the bank told her not to worry about informing counsel.
If I file bankruptcy for her, I am sure the trustee will file an avoidance action to undo the transfer. However, once this happens, can the debtor amend her exemptions so that she can keep the house and protect her equity?I would appreciate any comments. Thank you.
Nancy Jin, Attorney At Law
12821 Western Ave. Suite B
Garden Grove, CA 92841
The post was migrated from Yahoo.