《楊清泉律師專欄》JOINT TENANCY IRRELEVANT TO JUDICIAL LIEN AVOIDANCE…
楊清泉律師事務所
JOINT TENANCY IRRELEVANT TO JUDICIAL LIEN AVOIDANCE OF RESIDENCE IN BANKRUPTCY
《楊清泉律師專欄》JOINT TENANCY IRRELEVANT TO JUDICIAL LIEN AVOIDANCE OF RESIDENCE IN BANKRUPTCY (Part I)
If this case had been filed in California, the outcome would have been the same even if the homestead exemptions here are a lot less than $500,000. Here in California, the applicable homestead exemption for debtor is 704.730, which provides an exemption of $100,000 for head of household. Thus, debtor would still be able to exempt her share of the equity in the house of $24,500. Bankruptcy courts here would still rule against creditor and find that debtor can avoid or cancel the judgment lien of $63,667.38.
Why even bother to cancel the judicial lien if the bankruptcy wipes out the judgment of $63,667.38? Because while it is true that bankruptcy discharges the judgment of $63,667.38, the discharge order alone does not avoid or cancel the judicial lien that attached to residence before the bankruptcy was filed. If the bankruptcy was filed before the lien was issued, then the lien would never attach because of the automatic stay even if judgment was issued pre-filing. But if the lien attached to the residence pre-filing, a separate bankruptcy court order must be obtained during the bankruptcy specifically ordering the cancellation of the lien. Otherwise, the lien would still exist and is still attached to the residence despite the discharge. Judicial lien avoidance is done by motion. This motion should be filed as soon as possible after the bankruptcy case has started. Creditor may object.
Lawrence Bautista Yang is a graduate of Georgetown University Law Center and has been in law practice for thirty years. He specializes in bankruptcy, business and civil litigation and has handled more than four thousand successful bankruptcy cases in California. He speaks Mandarin and Fujien and looks forward to discussing your case with you personally. Please call (626) 284-1142 for an appointment at 1000 S Fremont Ave Bldg A-1 Suite 1125 Unit 58 Alhambra, CA 91803.
《楊清泉律師專欄》JOINT TENANCY IRRELEVANT TO JUDICIAL LIEN AVOIDANCE OF RESIDENCE IN BANKRUPTCY (Part I)
If this case had been filed in California, the outcome would have been the same even if the homestead exemptions here are a lot less than $500,000. Here in California, the applicable homestead exemption for debtor is 704.730, which provides an exemption of $100,000 for head of household. Thus, debtor would still be able to exempt her share of the equity in the house of $24,500. Bankruptcy courts here would still rule against creditor and find that debtor can avoid or cancel the judgment lien of $63,667.38.
Why even bother to cancel the judicial lien if the bankruptcy wipes out the judgment of $63,667.38? Because while it is true that bankruptcy discharges the judgment of $63,667.38, the discharge order alone does not avoid or cancel the judicial lien that attached to residence before the bankruptcy was filed. If the bankruptcy was filed before the lien was issued, then the lien would never attach because of the automatic stay even if judgment was issued pre-filing. But if the lien attached to the residence pre-filing, a separate bankruptcy court order must be obtained during the bankruptcy specifically ordering the cancellation of the lien. Otherwise, the lien would still exist and is still attached to the residence despite the discharge. Judicial lien avoidance is done by motion. This motion should be filed as soon as possible after the bankruptcy case has started. Creditor may object.
Lawrence Bautista Yang is a graduate of Georgetown University Law Center and has been in law practice for thirty years. He specializes in bankruptcy, business and civil litigation and has handled more than four thousand successful bankruptcy cases in California. He speaks Mandarin and Fujien and looks forward to discussing your case with you personally. Please call (626) 284-1142 for an appointment at 1000 S Fremont Ave Bldg A-1 Suite 1125 Unit 58 Alhambra, CA 91803.
把此文章分享到：
關於 楊清泉律師事務所
