Central District Consumer Bankruptcy Attorney's Association

He should be entitled to exempt 175k of 50% of the equity after deducting
for costs of sale.
Sincerely,
Michael Avanesian
Law Offices of David A. Tilem
www.tilemlaw.com
818-507-6000
On Sat, Nov 8, 2014 at 1:53 PM, 'Mark J. Markus' bklawr@yahoo.com [cdcbaa] wrote:
>
>
>
> Debtor owns 50% of a 4-unit residential property as tenants-in-common and
> lives in one of the four units.
>
> He is entitled to a $175,000 homestead exemption.
>
> If he files Chapter 7 and the Trustee decides to sell the property, does
> his homestead exemption apply to his entire 50% interest in the property,
> or only the portion in which he dwells (arguably 25%)?
>
> I'm assuming it applies to his entire 50% interest, or none at all, but
> wanted to be sure because it makes a difference in how much he could
> realize from a sale.
>
>
>
> --
>
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> Law Office of Mark J. Markus
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> Legal Specialization
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He should be entitled to exempt 175k of 50% of the equity after deducting for costs of sale.Sincerely, Michael AvanesianLaw Offices of David A. Tilem
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