TGIF !!! Exemption "distribution" (?) on Real Property [1 Attachment]
Posted: Fri Feb 05, 2010 1:39 pm
Margaret:
I've seen them, I've written them.
Robert:
I have used this tactic many times. Margaret is right, though, if your client lives in the house after the filing and does anything to make the trustee's life difficult while selling the house, the trustee will try to surcharge the homestead, for rent, ud costs, etc., etc., etc. Judges grant these surcharges.
If you make an agreement with the trustee the debtor will keep the house up, and show it at the drop of a hat, the trustee will get a better price than a run down vacant house will achieve, and may agree not to charge the debtor at all. You negotiate a deal at the beginning.
Advise the client the trustee may want them out to sell the house, and at least will want them out at the close of escrow, so make sure they are ready for a quick move.
I have had trustees negotiate an advance from escrow for moving costs.
dennis
The post was migrated from Yahoo.