Exemptions

California Bankruptcy Exemptions Talkov Law

California Bankruptcy Exemptions – 704 vs. 703?

Bankruptcy Exemptions in California Filing for Chapter 7 bankruptcy in California is a powerful tool that can relieve debtors of unsecured debts and provide a fresh start. Many people assume that bankruptcy involves creditors taking all their personal property, especially their home and vehicle. However, California bankruptcy exemptions allow debtors to maintain possession of certain … Read More

Selling a Home with a Lien Talkov Law California Real Estate Lawyer

5 Tricks to Selling a House With a Lien or Judgment

Can You Sell Property with a Lien or Judgment? Purchasing or selling a house is one of the biggest (and usually most expensive) events in a person’s life. This exciting time can be quickly dampened by one thing: a lien. Whether you are buying or selling a home, it is extremely important to ensure that … Read More

CCP 704.965 Automatic Homestead Exemption California Declared Homestead Exemption

CCP 704.965 – Automatic Homestead Exemption Defeats Outdated Limits on Declared Homestead Exemption in Bankruptcy

Debtors Can Still Claim California’s Increased, Automatic Homestead, Despite California Code of Civil Procedure § 704.965 Effective January 1, 2021, the California homestead exemption increased to $300,000 to $600,000 depending upon the median sales price in the county of residence, up from a meager $75,000 to $175,000 the year before. In turn, creditors have looked … Read More

Bankruptcy Trustee Continuing 341 Meeting of Creditors Talkov Law

Why Is the Bankruptcy Trustee Continuing the Meeting of Creditors?

Continuances of Meetings of Creditors – What is the Bankruptcy Trustee Investigating? Imagine this: you have filed all necessary bankruptcy paperwork and have attended your mandatory 341 meeting of creditors. You honestly answered all questions that the bankruptcy trustee asked you. Then, you get a notice that your bankruptcy trustee is continuing the meeting of … Read More

Transferring Exempt Property is Not a Fraudulent Transfer Under California Law

Transferring Exempt Property May Not be a Fraudulent Transfer

Transferring Exempt Property May Not be a Fraudulent Transfer Under California Law It is not uncommon for debtors to want to maximize the amount of property they get to keep to avoid creditor collection efforts, especially efforts to collect their personal residence. Generally, the California Uniform Voidable Transactions Act (UVTA) prohibits debtors from transferring ownership … Read More

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Bankruptcy Basics: The Ultimate Bankruptcy Law Introduction

Free Information on Bankruptcy Law under the United States Bankruptcy Code and In-Depth Descriptions of the Difference Between Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, and Chapter 11 Bankruptcy!

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Bankruptcy Exemptions – Can a Court Deny Exemptions After Law v. Siegel?

Limits on Court Authority to Deny Bankruptcy Exemptions When a debtor files for chapter 7 or chapter 11 bankruptcy, the debtor is entitled to certain bankruptcy exemptions which effect creditor’s rights. The exempt property is shielded from the creditors circling around the debtor’s estate for collection of their outstanding loans. One well-known exemption is the … Read More

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Bankruptcy Lien Avoidance on Exempt Property for Nondischargeable Debts [11 USC 522(f)(1) & 523(a)]

Debtor’s Rights in Bankruptcy to Avoid Judgment Liens Under Section 522(f)(1) of the Bankruptcy Code Debtors are likely subject to bankruptcy due to their inability to satisfy outstanding obligations to unsatisfied creditors. Bankruptcy affords a debtor protections in furtherance of the bankruptcy code‘s central goal to provide a fresh start to good faith debtors subjected … Read More

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Bankruptcy Discharge – An Effective Guide [11 U.S.C. § 524]

You may have recently received a letter from a trustee in a pending bankruptcy case indicating that the debtor received a discharge in the bankruptcy. You are not alone if you have no idea what this notice of discharge means. Does a notice of discharge mean that all preference (read about the two most heavily … Read More

Homestead Exemption in California AB 1885 Real Estate Lawyer Bankruptcy Attorney

Homestead Exemption California: The Ultimate Guide

While many California homeowners have heard of bankruptcy exemptions like the homestead exemption, few understand how this powerful tool can be used to ensure that homeowners stay in their homes, despite creditors, judgments, and even bankruptcies. Below, the experienced California bankruptcy attorneys at Talkov Law provide the tips and tricks to maximize your California homestead … Read More

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