Creating a living trust in a Chapter 13
Posted: Mon Apr 25, 2016 5:05 pm
I believe you need Court permission.
Keep in mind many deeds of trust/mortgages have a provision requiring
permission from the lender before any transfer of title.
On Apr 25, 2016 4:52 PM, "Nicholas Gebelt ngebelt@gebeltlaw.com [cdcbaa]" wrote:
>
>
> Dear Bankruptcy Brain Trust,
>
>
>
> I have a debtor who has been in a Chapter 13 for about a year. He would
> like to set up a living trust and put his home, and only his home, in the
> trust. If he does this he will transfer the property to another entity > the trust but it will be his own trust, set up for the benefit of his
> children. Does he have to get Court permission to do this?
>
>
>
> Thanks for any wisdom you can offer.
>
>
>
> Nick
>
>
>
> *Nicholas Gebelt*
>
>
>
> Nicholas Gebelt, Ph.D., J.D.
>
> Attorney at Law
>
> Certified Bankruptcy Law Specialist State Bar of California Board of
> Legal Specialization
>
> Commissioner, California State Bars Bankruptcy Law Advisory Commission
>
>
>
> [image: Description: Description: Description:
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>
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I believe you need Court permission.
Keep in mind many deeds of trust/mortgages have a provision requiring permission from the lender before any transfer of title.
On Apr 25, 2016 4:52 PM, "Nicholas Gebelt ngebelt@gebeltlaw.com [cdcbaa]" <cdcbaa@yahoogroups.com> wrote:
Dear Bankruptcy Brain Trust,
I have a debtor who has been in a Chapter 13 for about a year. He would like to set up a living trust and put his home, and only his home, in the trust. If
he does this he will transfer the property to another entity the trust but it will be his own trust, set up for the benefit of his children. Does he have to get Court permission to do this?
Thanks for any wisdom you can offer.
Nick
Nicholas Gebelt
an>
Nicholas Gebelt, Ph.D., J.D.
Attorney at Law
Certified Bankruptcy Law Specialist State Bar of California Board of Legal Specialization
Commissioner, California State Bars Bankruptcy Law Advisory Commission
an>
Law Offices of Nicholas Gebelt
15150 Hornell Street
Whittier, CA 90604
Phone: 562.777.9159
FAX:et"_blank">562.946.1365
Email:
ngebelt@goodbye2debt.com;
ngebelt@gebeltlaw.com
Web:www.goodbye2debt.com
Blog:www.southerncaliforniabankruptcylawblog.com/
an>
Important notice required by 11 U.S.C. 528:
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
Confidentiality Note: entity to which it is addressed and may contain information that is privileged, confidential, or otherwise protected from disclosure. Dissemination, distribution, or copying of this e-mail or the information herein by anyone other than the intended recipient,
or an employee or agent responsible for delivering the message to the intended recipient, is prohibited. If you have received this e-mail in error, please notify us immediately at 562.777.9159 or e-mail
info@gebeltlaw.com and destroy the original message and all copies.
Representation Note: the Law Offices of Nicholas Gebelt do not represent you, and this email does not contain any legal advice for you.
IRS Circular 230 Disclosure:
In order to comply with the requirements imposed by the Internal Revenue Service, we inform you that any U.S. tax advice contained in this communication (including any attachments)
is not intended to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue code, or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.
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