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Ch 7 Debtor wants to sell house after notice of no asset, but before discharge
Move to compel abandonment of residence. Section 554.
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> A chapter 7 debtor exempted about $80,000 through a homestead exemption. The 341 has concluded and the trustee issued a report of no assets. The debtor just received a cash offer to purchase her home, pay off both mortgages with about $40,000 left for the debtor. The adversary deadline isn't for another month.
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> Questions: 1) is court approval of the sale required before discharge? How about opening escrow, but not transferring the property until after the discharge?
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> 2) If the debtor wants to keep the cash and not reinvest in another homestead, could the trustee come back for the money?
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> I'm doing my research tomorrow, but if there are other issues to spot, or experience to share, it is much appreciated. Thanks,
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> Link Schrader, Attorney
> lschrader@...
> Mail: PO Box 3723, Tustin, CA 92781
> Office: 106 W 4th St, #308, Santa Ana, CA 92701
>
> Orange County: (714) 542-5922
> Los Angeles: (310) 413-6924 *
> San Diego: (619) 952-8342
> Facsimile: (310) 878-4158
> * Texts received at LA number only
>
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