.jpg)
Riverside Ch. 7 Trustee selling over-encumbered real estate
I'm consulting with a potential client who is in a Ch. 7 case in
Riverside. The Trustee is seeking to sell his principal residence,
which has two deeds of trust against it which more than cover any
possible value of the property. The only thing I can think of is
that the Trustee has made a deal with the junior lien holder for a
"short sale" scenario.
Debtor had taken the 703 exemptions, so they can switch to 704, but
I recall there being a discussion of this a while back and perhaps
case law supporting a debtor in challenging the Trustee's ability to
sell the property under such facts.
Does anyone have any experience with this in Riverside?
*************************
Mark J. Markus
Law Office of Mark J. Markus
_*Mailing Address Only:*_
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)332-1180 (fax)
web: http://www.bklaw.com/
Certified Bankruptcy Law Specialist--The State Bar of California
Board of Legal Specialization
This Firm is a Qualified Federal Debt Relief Agency
________________________________________________
NOTICE: This Electronic Message contains information from the law
office of Mark J. Markus that may be privileged. The information is
intended for the use of the addressee only. If you are not the
addressee, note that any disclosure, copy, distribution or use of
the contents of this message is prohibited.
IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements
imposed by the IRS, we inform you that any U.S. tax advice contained
in this communication (or in any attachment) is not intended or
written to be used, and cannot be used, for the purpose of (i)
avoiding penalties under the Internal Revenue Code or (ii)
promoting, marketing or recommending to another party any
transaction or matter addressed in this communication.
This email has been checked for viruses by AVG.
https://www.avg.com
The post was migrated from Yahoo.