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Time frame for trustee to sell real property or abandon?
Would this apply to property that is owned free and clear with no exemptions
to cover it? In my case, the debtor owns a small home out of state and we
have no exemptions left to cover it. Trustee's counsel is suggesting that
the trustee should not have a time frame within which to sell or abandon
since there is no dispute that that house is property of the estate and the
debtor is only entitled to an admin claim for the upkeep. Wuh? Am I
missing something? The trustee should not have an unlimited time to sell a
property, any property, right?
Holly Roark
holly@roarklawoffices.com
CDCA
On Sun, Apr 25, 2010 at 7:31 PM, wrote:
>
>
> Usually 180 days from the order consummating the settlement or order
> employing broker.
>
> Sent via BlackBerry by AT&T
> ------------------------------
> *Date: *Sun, 25 Apr 2010 17:37:44 -0700
> *To: *;
> *Subject: *Re: [cdcbaa] Time frame for trustee to sell real property or
> abandon?
>
>
>
> 180 days from what date? The entry of the order on our settlement
> agreement? I am trying to put the 180 day time frame into the agreement,
> but I don't know 180 days from what date. I want the earliest date as
> possible, of course. The debtor had already had the property on the market
> for 4 months before the trustee took over. Any guidance is appreciated.
>
>
> Holly Roark
> CDCA
> holly@roarklawoffices.com
>
> On Mon, Apr 12, 2010 at 7:36 PM, wrote:
>
>>
>>
>> I would expect 180 days to be a reasonable period of time to market and
>> try to sell the real property.
>>
>> Sent via BlackBerry by AT&T
>> ------------------------------
>> *Date: *Mon, 12 Apr 2010 19:33:00 -0700
>> *To: *;
>> *Subject: *[cdcbaa] Time frame for trustee to sell real property or
>> abandon?
>>
>>
>>
>> In entering into a settlement agreement with a Chapter 7 trustee in an
>> asset case, when one of the assets is real property, what time frame is
>> reasonable for the trustee to either sell real property or abandon? The
>> real property is in a rural area in the midwest. I am thinking 120 days.
>> What do you think? Is that too short/too long? What is common in cases
>> in the CDCA?
>>
>>
>>
>> --
>> Holly Roark
>> holly@roarklawoffices.com
>> www.roarklawoffices.com
>> Central District of California
>> Consumer Bankruptcy Attorney
>>
>>
>
>
> --
> Holly Roark
> holly@roarklawoffices.com
> www.roarklawoffices.com
> Central District of California
> Consumer Bankruptcy Attorney
>
>
>
Holly Roark
holly@roarklawoffices.com
www.roarklawoffices.com
Central District of California
Consumer Bankruptcy Attorney
Would this apply to property that is owned free and clear with no exemptions to cover it? In my case, the debtor owns a small home out of state and we have no exemptions left to cover it. Trustee's counsel is suggesting that the trustee should not have a time frame within which to sell or abandon since there is no dispute that that house is property of the estate and the debtor is only entitled to an admin claim for the upkeep. Wuh? Am I missing something? The trustee should not have an unlimited timeto sell a property, any property, right?
Holly Roark
holly@roarklawoffices.com
CDCA
On Sun, Apr 25, 2010 at 7:31 PM, <larry@lsimonslaw.com> wrote:
Usually 180 days from the order consummating the settlement or order employing broker.
Sent via BlackBerry by AT&T
target"_blank">hollyroark22@gmail.com>
Date: Sun, 25 Apr 2010 17:37:44 -0700
To: <cdcbaa@yahoogroups.com>; <bk@nacba.org>
Subject: Re: [cdcbaa] Time frame for trustee to sell real property or abandon?
180 days from what date? The entry of the order on our settlement agreement? I am trying to put the 180 day time frame into the agreement, but I don't know 180 days from what date. I want the earliest date as possible, of course. The debtor had already had the property on the market for 4 months before the trustee took over. Any guidance is appreciated.
Holly Roark
CDCA
holly@roarklawoffices.com
On Mon, Apr 12, 2010 at 7:36 PM, <larry@lsimonslaw.com> wrote:
I would expect 180 days to be a reasonable period of time to market and try to sell the real property.
Sent via BlackBerry by AT&T
target"_blank">hollyroark22@gmail.com>
Date: Mon, 12 Apr 2010 19:33:00 -0700
To: <cdcbaa@yahoogroups.com>; <bk@nacba.org>
Subject: [cdcbaa] Time frame for trustee to sell real property or abandon?
In entering into a settlement agreement with a Chapter 7 trustee in an asset case, when one of the assets is real property, what time frame is reasonable for the trustee to either sell real property or abandon? The real property is in a rural area in the midwest. I am thinking 120 days.
-- Holly Roarkholly@roarklawoffices.comwww.roarklawoffices.com
Central District of CaliforniaConsumer Bankruptcy Attorney
-- Holly Roarkholly@roarklawoffices.comwww.roarklawoffices.com
Central District of CaliforniaConsumer Bankruptcy Attorney
-- Holly Roarkholly@roarklawoffices.comwww.roarklawoffices.com
Central District of CaliforniaConsumer Bankruptcy Attorney
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