Legal Question in Bankruptcy in California
Chapter 7 Homesteading - selling nonexempt assets
I recently found information that says, if the equity is not enough to cover the homestead exemption, nonexempt property can be sold and applied to the home. Is this correct? Should the bankruptcy lawyer be aware of this and should we have been advised of this provision? We have been discharged and the property sold, is there anything we can do?
Asked on 6/01/99, 12:55 am
2 Answers from Attorneys
Ken Koury
Kenneth P. Koury, Esq.
Re: Chapter 7 Homesteading -
Shifting assets from non-exempt to exempt catagories before filing is something every bankruptcy lawyer should advise you on. This is pretty basic.
Answered on 6/03/99, 11:16 am
Mark Markus
Law Office of Mark J. Markus
Re: Chapter 7 Homesteading -
I believe we already discussed this matter by phone. Are you the one from Canada?
Answered on 6/02/99, 5:10 pm
Related Questions & Answers
-
Filing Status Ch.7 So. California Doing a Chapter 7 as favor for friend. She... Asked 5/22/99, 5:58 pm in United States California Bankruptcy Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
