In box 2 it reflected a five digit amount. Correct me if I am wrong, but under the Federal Forgiveness Act which is due to expire in 2012, states that I do not have to report the interest as depicted in box 2 of the 1099C. Am I correct?
You have to report the income, but you may be eligible to claim the exemption under the Debt Forgiveness Act if the home secured by the forgiven debt was your principal residence. For more info see http://www.irs.gov/pub/irs-pdf/p4681.pdf &...Read more »
It's impossible to answer your question based solely on the information that you provided. Did your husband die intestate (i.e, without a will)? When did your husband acquire the property in California (during or before marriage). In which state did you and your husband reside? This type...Read more »
If the temporary restraining order expired and the court did not grant an extension or a permanent restraining order, then you would have to refile and get a new hearing. If the temporary restraining order expired and the court granted a permanent restraining order, you have to prepare a CH-140...Read more »
There are 2 sets of exemptions available in CA. Code of Civil Procedure Sec. 704.010 et.seq or CA Code of Civil Procedure 703.140 which is only available in bankruptcy. When you file for bankruptcy, you have to decide which set of exemptions you want to apply. You can't pick and choose from...Read more »
No, your previous bankruptcy case from 14 years ago is not a related case. You should read the local rules for the district in which you plan to file and look for the definition of the term "related case." Usually you can find a copy of the local rules on the court's website.
You will have at least 1 court appearance known as the 341 creditors meeting. It's a brief meeting with the bankruptcy trustee who will ask you a few questions. If you file a chapter 13 petition (as opposed to a chapter 7) you may also have a hearing to address problems with your proposed...Read more »
Can you clarify your question? Based on what you are saying and the fact that your question is posted in the bankruptcy section, I have to conclude that you are asking if you should file for bankruptcy. Right now, you only have the threat of a lawsuit. There is no reason to rush to the...Read more »
I know the time periods are thus: 1st 1/2 Property Taxes due Nov 1, 2010 and Dlqt Dec 10, 2010 covers period from 7/1/2010 to 12/30/2010. 2nd 1/2 due 2/1/2011 and Dlqt 4/10/2011 covers period from 1/1/2011 to 6/30/2011, however I can't find anything that specifically states that so. the... Read more »
While I commend you for going out of your way to get an answer for your client, I have to caution you not to get into giving legal advice. My suggestion would be to turn this question over to your trusted escrow officer or provide your clients with the telephone number for the county tax...Read more »
I cross out the paragraph as there are no such minimum requirement in my market (Greater Sacramento area). I am not aware of any statewide mandatory retrofit requirements, but it is very possible that there are local requirements in other parts of the state. I have heard of a retrofit requirement...Read more »
The purpose of chapter 7 is to discharge unsecured debts. Chapter 7 does not affect liens on your house, but if the underlying debt is dischargeable, you are no longer personally responsible for the debt after the chapter 7 discharge. Yes, a typical creditor has to get a judgment first and then...Read more »
I am assuming you are asking how you can find out if the owner is telling you the truth. The owner would have had filed for bankruptcy in the district where he resides and you can go to the bankruptcy court and search by his name and see if he filed a bankruptcy petition or you can subcribe to the...Read more »
You can certainly just prepare a grant deed and have it notarized and recorded, but it's not a good idea at all to not involve an escrow company because you don't want to pay for escrow. You could have negotiated that the buyer pay the escrow and title fees or split the fees. Escrow...Read more »
Yes, you can do a short sale while a chapter 7 bankruptcy case is pending, but the bankruptcy court has to first grant a relief from the automatic stay. While the lender can file a motion for relief from the automatic stay, it is unlikely that the lender will do so to make a short sale possible....Read more »
It is difficult to track state court cases as the superior court decisions are not published and even if there were any cases, they would not be persuasive authority for another case. Only published appellate court decisions can be used for citation in another case. At this point, the problems...Read more »
Unless your custody and visitation order specifies that he has to give you the right of first refusal so-to-speak when he can't personally take care of his son during the visitation, there is nothing you can do to prevent him from leaving his son in the care of the girfriend as long as it is...Read more »
You can file for a legal separation and then amend later to a petition for dissolution of marriage once the residence requirements have been satisfied. See California Family Code section 2321 http://law.onecle.com/california/family/2321.html
If it's important to you that she take the furniture out of your storage unit, I would send her a certified letter telling her that you will move the furniture to another storage unit (pay for the first month) and send her the key if she does not meet you to retrieve the property by a certain...Read more »
It's not clear if your children are minors or adults. Only if they are minors and your soon-to-be ex-wife will have custody/visitation rights will her treatment towards you and them be of interest to the judge.
Why would it not be legal? The two cases are not related to each other. The fact that your husband was referred to his attorney by his girlfriend is no different than if you referred a friend to your attorney. I don't see a conflict of interest or other problem. Did I misunderstand your...Read more »
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