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Homestead exemption issue
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Jim:
The simplest answer is to try. If someone challenges it, they will have to
produce points and authorities which you can then "reverse engineer". You
clearly have a good faith basis for asserting the higher amount. If the
challenge is successful, can you convert to C13 or C11?
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
Specialization.
Jim Selth
Sent: Tuesday, August 17, 2010 8:18 AM
To: cdcbaa@yahoogroups.com
Subject: RE: [cdcbaa] Homestead exemption issue
Colleagues:
I have married clients who wish to file Chapter 7 jointly and need the
maximum homestead exemption to protect equity in the home they have owned
jointly since 1986. The wife is 56 and the husband is 66. The husband has
lived outside the home for many years, although there is no legal
separation. The wife and their two sons reside in the home. The husband
uses the home address for most, but not all of his bills, his tax returns,
etc . However, he pays rent and utilities for a small apartment in which he
lives. I must file a "separate households" Schedule J to account for these
expenses he actually pays. Is there any basis for the Trustee to challenge
the $175,000 exemption if the over-65 spouse does not "reside" in the home?
I have read the homestead cases and do not believe the over-65 spouse can
truthfully testify that he intends to return to the home. Does CCP
704.730(a)(3) modify 704.720(d), at least as to the amount of the homestead?
Jim
James R. Selth
Weintraub & Selth, APC
12121 Wilshire Boulevard, Suite 1300
Los Angeles, California 90025
Telephone: (310) 207-1494
Facsimile: (310) 442-0660
E-Mail: jim@wsrlaw.net
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Message
Jim:
The simplest answer is to
try. If someone challenges it, they will have to produce points and
authorities which you can then "reverse engineer". You clearly have a good
faith basis for asserting the higher amount. If the challenge is
successful, can you convert to C13 or C11?
David A.
Tilem
Certified Bankruptcy
Specialist*
The post was migrated from Yahoo.
Colleagues:
I have married clients who wish to file Chapter 7 jointly and need the maximum homestead exemption to protect equity in the home they have owned jointly since 1986. The wife is 56 and the husband is 66. The husband has lived outside the home for many years, although there is no legal separation. The wife and their two sons reside in the home. The husband uses the home address for most, but not all of his bills, his tax returns, etc . However, he pays rent and utilities for a small apartment in which he lives. I must file a "separate households" Schedule J to account for these expenses he actually pays. Is there any basis for the Trustee to challenge the $175,000 exemption if the over-65 spouse does not "reside" in the home? I have read the homestead cases and do not believe the over-65 spouse can truthfully testify that he intends to return to the home. Does CCP 704.730(a)(3) modify 704.720(d), at least as to the amount of the homestead?
Jim
James R. Selth
Weintraub & Selth, APC
12121 Wilshire Boulevard, Suite 1300
Los Angeles, California 90025
Telephone: (310) 207-1494
Facsimile: (310) 442-0660
E-Mail: jim@wsrlaw.net
NOTICE TO RECIPIENT: THIS E-MAIL IS MEANT FOR ONLY THE INTENDED RECIPIENT OF THE TRANSMISSION AND THIS COMMUNICATION IS INTENDED TO BE PRIVILEGED BY LAW. IF YOU RECEIVED THIS E-MAIL IN ERROR, ANY REVIEW, USE, DISSEMINATION, DISTRIBUTION, OR COPYING OF THIS E-MAIL IS STRICTLY PROHIBITED. PLEASE NOTIFY US IMMEDIATELY OF THE ERROR BY RETURN-E-MAIL AND PLEASE DELETE THIS MESSAGE FROM YOUR SYSTEM. THANK YOU IN ADVANCE FOR YOUR COOPERATION.
The post was migrated from Yahoo.