Consequences of having deeded a fraction of the home
Posted: Wed Jun 20, 2012 5:28 pm
It really depends on the judge. I would be cautious about telling the client there could be problems if client gets a hanging judge.
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________________________________
To: cdcbaa@yahoogroups.com; 'NACBA BK' ; 'CAMFFG'
Sent: Thursday, June 14, 2012 10:00 AM
Subject: RE: [cdcbaa] Consequences of having deeded a fraction of the home to 3rd party who, thereafter filed bk
How will the client get the fractional interest in the house
back from the 3rd party? Assuming that the 3rd party
will freely deed it back, it then leads to questioning about the relationship
between the client and the 3rd party, whether the original
fractional deeding was to defraud or hinder the lender, other such unpleasant
conversations.
Desiree Causey, Esq.
Law Office of Desiree Causey
17011 Beach Blvd., Suite 900
Huntington Beach, CA 92647
714-375-6663
714-908-7646 (fax)
From:cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] On Behalf Of Alik
Segal
Sent: Thursday, June 14, 2012 3:21 AM
To: NACBA BK; CDCBAA Listserv; CAMFFG
Subject: [cdcbaa] Consequences of having deeded a fraction of the home
to 3rd party who, thereafter filed bk
Listmates,
Prospective client was facing a foreclosure and went to an
independent paralegal where he receivedbad advice. Per paralegal's
instructions he deeded a fraction of his house to a 3rd party who filed chapter
13. The planned foreclosure sale was taken off calendar. The 3rd
party's bankruptcy case was eventually dismissed for failure to complete
emergency filing, etc. Now PC is facing another sale date. He
actually has a good case and should be able to confirm and perform a chapter 11
plan.
How likely is it that in the new case, he will have problems
due to having followed paralegal's bad advice about deeding a fraction of the
home to 3rd party who, thereafter filed bk.
Alik Segal
Alik.Segal@gmail.com
310-362-6157
California Central District
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