Legal Question in Bankruptcy in California

Bankruptcy-Homesteading Property
I am entering a serious battle over several property issues from a previous marriage. Several people have told me to homestead my current residence, (I have purchased it since the divorce), but I am unable to find any information regarding this issue, or exactly who to contact, or what to do. I am seriously considering chapter 7, (my income is much less than my current outgo due to negative cash flows from some rental property), but, I can't afford to lose my present home. I can not find where a residence is protected as "exempt" under bankruptcy law. I have a contract law attorney for property issues, but the atty. was unable to tell me how to do the homesteading, or who to contact. Can you help?

Asked on 4/23/98, 12:19 am

Mark Markus Law Office of Mark J. Markus

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Bankruptcy--Homesteading Property

Absolutely. If you live in the Greater Los Angeles area, please visit my web page and give me a call. I'll be happy to help.

Answered on 5/13/98, 11:31 am

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