UI
Posted: Fri Jan 22, 2010 11:09 am
If anyone on here uses Best Case for Ch. 13 cases, please contact me off
list (mark@bklaw.com) about the following:
When you have real estate in which the debtor owns a partial interest as
joint tenant, the liquidation analysis doesn't work properly because it
adds the full amount of the value of the property, thus showing more
equity than is really there, and it does NOT account for the co-owners
separate homestead exemption. I can't figure out how to make this
work. Best Case said to just list 1/2 the value of the property, but
that isn't accurate because the value to the debtor is actually half of
the net EQUITY after secured debts are subtracted, not have of the gross
value. To do it the other way, the secured debts would get subtracted
twice, and either way the joint owner's separate homestead exemption
doesn't get factored in.
How do you handle this??
*************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw.com/
This Firm is a Qualified Federal Debt Relief Agency (see what this means at http://bklaw.com/bankruptcy-blog/2008/0 ... efinition/)
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