Legal Question in Bankruptcy in California

Chapter 13 bankruptcy assets

Situation: a ''friend'' is at the end of his payment period under Ch. 13 bankruptcy. At the time of filing for Ch. 13, he claims he told his attorney about having an interest as a joint tenant in another property, but that having it wasn't an issue under Ch. 13. Now, due to family issues, the JT may be broken, and he would own half of the property as a tenant in common. Question: is this asset, either initially or as amended into TIC ownership, subject to being taken by the Ch. 13 creditors?


Asked on 4/09/07, 1:43 pm

1 Answer from Attorneys
Carl Starrett Law Offices of Carl H. Starrett II

Re: Chapter 13 bankruptcy assets

For the purposes of bankruptcy, there is no difference between holding title as a joint tenant versus and tenant in common. The court has the same jurisdiction over the proerty no matter how title is held. Your friend should be find if he listed the property in his initial bankruptcy filing accurately.

The whole point of a Chapter 13 is is let the debtor keep his or her property by applying future income to pay down the debt. If you friend had filed a Chapter 7, then the trustee might have forced your friend to sell is or her interest in the property.

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Answered on 4/09/07, 2:45 pm


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