Central District Consumer Bankruptcy Attorney's Association

LBR 9009-1(c) has procedure for changingmandatory form language.
Law Office of Peter M. Lively * Personal Financial Law Center I
11268 Washington Boulevard, Suite 203, Culver City, California 90230-4647
Telephone: (310) 391-2400* Toll Free: (800) 307-3328 * Fax: (310) 391-2462
On , Peter M. Lively wrote:
Look at the form Chapter 13 plan section VI, the estate property doesn't revestin the debtor until after discharge, dismissal or case closing without discharge.
Law Office of Peter M. Lively * Personal Financial Law Center I
11268 Washington Boulevard, Suite 203, Culver City, California 90230-4647
Telephone: (310) 391-2400*
Toll Free: (800) 307-3328 * Fax: (310) 391-2462
On Monday, April 7, 2014 10:15 AM, "mitnicklaw@aol.com" wrote:
OCBF is holding a brown bag on Jacobson on Thursday 4/10.
The case that Steve is referring to concerns postpetition, preconversion appreciation under Section 348.
Law Office of Eric Alan Mitnick
21515 Hawthorne Boulevard, Ste. 1080
Torrance, California 90503
(310) 792-5864; 792-5866 (fax)
MitnickLaw@aol.com
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The information contained in this email message and any attached files may be privileged, confidential and protected from disclosure. If you are not the intended recipient, any dissemination, distribution or copying is strictly prohibited. If you think that you have received this email message in error, please notify the sender by reply email, and delete the email message you received and all of the attached files.
To: cdcbaa
Sent: Mon, Apr 7, 2014 10:00 am
Subject: RE: [cdcbaa] Re: Motion to Sell Residence in Chapter 13 and Disposition of Proceeds
Steve - I know I am a little off your topic, but I am having a hard time getting a handle on this issue of reinvestment of homestead proceeds peculiar to California. I looked for the case you referred to in the 2013 case law update materials and did not find it. I have always assumed that a chapter 13 debtor may retain the exempt proceeds from a postpetition sale of the homestead. But Jacobson is very troubling. Although it was a chapter 7 case, I don't see that it's holding is specifically limited to chapter 7 cases. In Jacobson, the 9th Circuit stated that the homestead exemption in postpetition proceeds of sale isconditioned on reinvestment. If the debtor does not reinvest the proceeds within 6 months of sale, the Debtor loses the exemption. I think the issue of whether or not Jacobson extends to chapter 13 debtors is still an open one. And excuse me if I am wrong on this point, but I thought that, in our district, property does not reves t in
the Debtor until discharge - at least that is what our local plan states at paragraph VI.So if the Debtor does not reinvest the postpetition proceeds of the sale of the homestead, I believe that a chapter 13 trustee could make a compelling argument that the exemption is lost and either the funds are property of the 13estate that must be turnedover (or at least the liquidation value must be reanalyzed and plan modified). Am I completely off base on this?

The post was migrated from Yahoo.

Look at the form Chapter 13 plan section VI, the estate property doesn't revestin the debtor until after discharge, dismissal or case closing without discharge.
Law Office of Peter M. Lively * Personal Financial Law Center I
11268 Washington Boulevard, Suite 203, Culver City, California 90230-4647
Telephone: (310) 391-2400* Toll Free: (800) 307-3328 * Fax: (310) 391-2462
On Monday, April 7, 2014 10:15 AM, "mitnicklaw@aol.com" wrote:
OCBF is holding a brown bag on Jacobson on Thursday 4/10.
The case that Steve is referring to concerns postpetition, preconversion appreciation under Section 348.
Law Office of Eric Alan Mitnick
21515 Hawthorne Boulevard, Ste. 1080
Torrance, California 90503
(310) 792-5864; 792-5866 (fax)
MitnickLaw@aol.com
Although this email and any attachments are believed to be free of any virus or other defect that might affect any computer system into which it is received and opened, it is the responsibility of the recipient to ensure that it is virus free and no responsibility is accepted by the sender for any loss or damage arising in any way from its use.
The information contained in this email message and any attached files may be privileged, confidential and protected from disclosure. If you are not the intended recipient, any dissemination, distribution or copying is strictly prohibited. If you think that you have received this email message in error, please notify the sender by reply email, and delete the email message you received and all of the attached files.
To: cdcbaa
Sent: Mon, Apr 7, 2014 10:00 am
Subject: RE: [cdcbaa] Re: Motion to Sell Residence in Chapter 13 and Disposition of Proceeds
Steve - I know I am a little off your topic, but I am having a hard time getting a handle on this issue of reinvestment of homestead proceeds peculiar to California. I looked for the case you referred to in the 2013 case law update materials and did not find it. I have always assumed that a chapter 13 debtor may retain the exempt proceeds from a postpetition sale of the homestead. But Jacobson is very troubling. Although it was a chapter 7 case, I don't see that it's holding is specifically limited to chapter 7 cases. In Jacobson, the 9th Circuit stated that the homestead exemption in postpetition proceeds of sale isconditioned on reinvestment. If the debtor does not reinvest the proceeds within 6 months of sale, the Debtor loses the exemption. I think the issue of whether or not Jacobson extends to chapter 13 debtors is still an open one. And excuse me if I am wrong on this point, but I thought that, in our district, property does not reves t in
the Debtor until discharge - at least that is what our local plan states at paragraph VI.So if the Debtor does not reinvest the postpetition proceeds of the sale of the homestead, I believe that a chapter 13 trustee could make a compelling argument that the exemption is lost and either the funds are property of the 13estate that must be turnedover (or at least the liquidation value must be reanalyzed and plan modified). Am I completely off base on this?

The post was migrated from Yahoo.

OCBF is holding a brown bag on Jacobson on Thursday 4/10.
The case that Steve is referring to concerns postpetition, preconversion appreciation under Section 348.
Law Office of Eric Alan Mitnick
21515 Hawthorne Boulevard, Ste. 1080
Torrance, California 90503
(310) 792-5864; 792-5866 (fax)
MitnickLaw@aol.com
Although this email and any attachments are believed to be free of any virus or other defect that might affect any computer system into which it is received and opened, it is the responsibility of the recipient to ensure that it is virus free and no responsibility is accepted by the sender for any loss or damage arising in any way from its use.
The information contained in this email message and any attached files may be privileged, confidential and protected from disclosure. If you are not the intended recipient, any dissemination, distribution or copying is strictly prohibited. If you think that you have received this email message in error, please notify the sender by reply email, and delete the email message you received and all of the attached files.
To: cdcbaa
Sent: Mon, Apr 7, 2014 10:00 am
Subject: RE: [cdcbaa] Re: Motion to Sell Residence in Chapter 13 and Disposition of Proceeds
Steve - I know I am a little off your topic, but I am having a hard time getting a handle on this issue of reinvestment of homestead proceeds peculiar to California. I looked for the case you referred to in the 2013 case law update materials and did not find it. I have always assumed that a chapter 13 debtor may retain the exempt proceeds from a postpetition sale of the homestead. But Jacobson is very troubling. Although it was a chapter 7 case, I don't see that it's holding is specifically limited to chapter 7 cases. In Jacobson, the 9th Circuit stated that the homestead exemption in postpetition proceeds of sale is conditioned on reinvestment. If the debtor does not reinvest the proceeds within 6 months of sale, the Debtor loses the exemption. I think the issue of whether or not Jacobson extends to chapter 13 debtors is still an open one. And excuse me if I am wrong on this point, but I thought that, in our district, property does not reves t in the Debtor until discharge - at least that is what our local plan states at paragraph VI. So if the Debtor does not reinvest the postpetition proceeds of the sale of the homestead, I believe that a chapter 13 trustee could make a compelling argument that the exemption is lost and either the funds are property of the 13 estate that must be turned over (or at least the liquidation value must be reanalyzed and plan modified). Am I completely off base on this?
OCBF is holding a brown bag on Jacobson on Thursday 4/10.

The case that Steve is referring to concerns postpetition, preconversion appreciation under Section 348.
Law Office of Eric Alan Mitnick
21515 Hawthorne Boulevard, Ste. 1080
Torrance, California 90503
(310) 792-5864; 792-5866 (fax)
MitnickLaw@aol.com

Although this email and any attachments are believed to be free of any virus or other defect that might affect any computer system into which it is received and opened, it is the responsibility of the recipient to ensure that it is virus free and no responsibility is accepted by the sender for any loss or damage arising in any way from its use.

The information contained in this email message and any attached files may be privileged, confidential and protected from disclosure. If you are not the intended recipient, any dissemination, distribution or copying is strictly prohibited. If you think that you have received this email message in error, please notify the sender by reply email, and delete the email message you received and all of the attached files.
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To: cdcbaa <cdcbaa@yahoogroups.com>
Sent: Mon, Apr 7, 2014 10:00 am
Subject: RE: [cdcbaa] Re: Motion to Sell Residence in Chapter 13 and Disposition of Proceeds

The post was migrated from Yahoo.