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Message
Looks like the plan is a straight 100% repayment plan over 60 months being done to cure (believe it or not) mortgage arrears. So it is appropriate to get relief from stay to allow the family court to allocate and divide the property? There's about $160k equity in the property, so he wants to protect his 50% share somehow.
----- Original Message -----
To:
cdcbaa@yahoogroups.com
Sent: Wednesday, June 22, 2005 4:43 PM
Subject: RE: [cdcbaa] Real Property/Divorce question
This is a mess. Most straightforward way to go is to file a decl relief action in the bankruptcy court to determine nature of estate's right, title and interest. Answer should be: it's community property and estate gets it all. Don't know whether this affects the proposed plan. After Ch 13 is over, or during Ch 13 with relief from stay, the family law court can divide it.
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem
500 N. Brand Blvd., #460, Glendale, CA 91203
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal Specialization.
Business bankruptcy specialist cert. by Amer. Bd. of Certification
-----Original Message-----
Mark J Markus
Sent: Wednesday, June 22, 2005 3:57 PM
To:
cdcbaa@yahoogroups.com
Cc: BK Roundtable
Subject: [cdcbaa] Real Property/Divorce question
Here are the facts as best as I just got them described to me:
H&W are either divorced or in the process of being divorced, but the property settlement has not been completed. W files a Ch. 13 case.
Apparently their residence was purchased during the marriage and taken, inappropriately, in the names of their minor children. The mortgage loans were also taken in the names of the minor children. W has been paying the mortgage.
H calls me to ask what he can do in the BK case to be sure he is able to keep his share of the proceeds of the house pursuant to whatever the family law court ultimately rules (which would probably be his 50% C/P share.
Is this as complicated as it sounds? Can we/must we/should we get relief from stay to allow the family law court to do a quiet title action on the property to determine who really owns it? (I haven't yet checked to see if W even scheduled the property on her BK petition).
Are there other ways for H to protect himself?
***********************************************
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)
e-mail:
bklawr@bklaw.com
web:
http://www.bklaw.com/
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charset="windows-1251"
Message
Looks like the plan is a straight 100% repayment
plan over 60 months being done to cure (believe it or not) mortgage
arrears. So it is appropriate to get relief from stay to allow the
family court to allocate and divide the property? There'sabout $160k equity in the property, so he wants to protect his 50% share
somehow.
----- Original Message -----
From:
David
A. Tilem
To:
cdcbaa@yahoogroups.com
Sent: Wednesday, June 22, 2005 4:43
PM
Subject: RE: [cdcbaa] Real
Property/Divorce question
This is a
mess. Most straightforward way to go is to file a decl relief action in
the bankruptcy court to determine nature of estate's right, title and
interest. Answer should be: it's community property and estate gets it
all. Don't know whether this affects the proposed plan. After Ch
13 is over, or during Ch 13 with relief from stay, the family law court can
divide it.
David A. Tilem
Certified Bankruptcy
Specialist*
Law Offices of David A.
Tilem
500 N. Brand Blvd., #460, Glendale, CA
91203
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by
State Bar of CA Bd of Legal Specialization.
Business bankruptcy specialist cert. by Amer. Bd. of
Certification
-----Original Message-----From:
cdcbaa@yahoogroups.com [mailto:
cdcbaa@yahoogroups.com] On Behalf Of
Mark J MarkusSent: Wednesday, June 22, 2005 3:57
PMTo:
cdcbaa@yahoogroups.comCc: BK
RoundtableSubject: [cdcbaa] Real Property/Divorce
question
Here are the facts as best as I just got them
described to me:
H&W are either divorced or in the process of
being divorced, but the property settlement has not been
completed. W files a Ch. 13 case.
Apparently their residence was purchased during
the marriage and taken, inappropriately, in the names of their minor
children. The mortgage loans were also taken in the names of the minor
children. W has been paying the mortgage.
H calls me to ask what he can do in the BK case
to be sure he is able to keep his share of the proceeds of the house pursuant
to whatever the family law court ultimately rules (which would probably be his
50% C/P share.
Is this as complicated as it sounds?
Can we/must we/should we get relief from stay to allow the family law
court to do a quiet title action on the property to determine who really owns
it? (I haven't yet checked to see if W even scheduled the property on
her BK petition).
Are there other ways for H to protect
himself?
***********************************************Mark J.
MarkusLaw Office of Mark J. Markus11684 Ventura Blvd. PMB
#403Studio City, CA 91604-2652(818)509-1173(818)509-1460
(fax)e-mail:
bklawr@bklaw.comweb:
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