Today my attorney held a 2004 exam against my ex husband who is filing ch. 13 on my divorce settlement. My ex filed approx Nov. 20 2009 and had moved out of our old home late Aug. 2009. The home is vacant and was not occupied at the time of filing and has been vacant since he moved. From what I understand there is some sort of rule that protects "x" amount of equity in his primary residence. Since this was not his primary residence, is any of the equity in the home protected? He has it listed for sale for approximated 80k in proceeds and has been living in his girlfriends parents "extra" home since they moved out.
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When someone files bankruptcy, each state has bk exemptions - including a homestead exemption - that protects a certain amount of equity in the primary residence.Originally posted by Lisamlacy View Post
It depends on how the court views whether the home in question was actually his primary residence or not when he filed.Since this was not his primary residence, is any of the equity in the home protected? He has it listed for sale for approximated 80k in proceeds and has been living in his girlfriends parents "extra" home since they moved out.
Keep us posted about what happens please. I hope everything ends up in your favor.I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
06/01/06 - Filed Ch 13
06/28/06 - 341 Meeting
07/18/06 - Confirmation Hearing - not confirmed, 3 objections
10/05/06 - Hearing to resolve 2 trustee objections
01/24/07 - Judge dismisses mortgage company objection
09/27/07 - Confirmed at last!
06/10/11 - Trustee confirms all payments made
08/10/11 - DISCHARGED !
10/02/11 - CASE CLOSED
Countdown: 60 months paid, 0 months to go -
To add to the knowledge, or confusion as it may be:
Some states CALL it "primary residence" under very different terms.
For instance, I live in my house in Florida. Tonight it is my primary residence. UNLESS I decide to move in an hour to a NEW home. If I then say I live there, and follow up by changing voter registration, driver license and so on, it IS my primary residence as of the time I move there.
No need to file homestead declaration (many are confused about this-in FL the homestead filing is for tax purposes, not legal homestead exemption claims). In other states, it is very different.
Some states require you occupy a place for a certain amount of time. Or file such and such document with the county. Or court. Or have utility bills that show you "live" there.
It varies by state.
You would do well to make sure you know what counts in your state.11-20-09-- Filed Chapter 7
12-23-09-- 341 Meeting-Early Christmas Gift?
3-9-10--DischargedComment
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