Riverside Ch. 7 Trustee selling over-encumbered real estate
Posted: Fri Aug 24, 2018 12:58 pm
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?
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