Appraiser visit...what to expect?

[Footprints1973]

Well, the appraiser called to set up an appointment to do an appraisal of our assets. Has anyone gone through this? Of course he will look at the car, but I'm wondering about the apartment. Is he going to go through each and every drawer? I am not hiding anything, but I feel weird about some guy looking through my clothes drawers, you know what I mean?

I am sorry if I am whining, but I really hate this! I know it's just stuff, but we really don't have much. I've already accepted the fact that we will have to give up our car. But our everyday stuff? The wildcard for personal property in my state is 1,000, so 2,000 between dh and I. We want to save my ring, so that wipes out a good chunk of it. Our little girl's belongings are chunked into that limit as well.

Thanks for reading,
Footprints

[justbroke]

Well, the appraiser called to set up an appointment to do an appraisal of our assets. Has anyone gone through this? Of course he will look at the car, but I'm wondering about the apartment. Is he going to go through each and every drawer? I am not hiding anything, but I feel weird about some guy looking through my clothes drawers, you know what I mean?

I am sorry if I am whining, but I really hate this! I know it's just stuff, but we really don't have much. I've already accepted the fact that we will have to give up our car. But our everyday stuff? The wildcard for personal property in my state is 1,000, so 2,000 between dh and I. We want to save my ring, so that wipes out a good chunk of it. Our little girl's belongings are chunked into that limit as well.

Thanks for reading,
Footprints

Are you in Florida, because if you are, and you are not taking a Homestead Exemption (because you don't own a home that you're living in as your primary residence, OR, that you are surrendering the Homestead), then you get an additional $4,000 for each spouse.

Therefore, you'd have $10K in wildcard exemptions.

[Footprints1973]

Yes, it is FL, and I wasn't sure if the 4,000 wildcard was true or not. But I thought it was only per couple? So we have a total of 6k all together? Our lawyer hasn't been very helpful....

If we do get $4000 wildcard, we might put it towards our car if possible...and then make payments to the trustee (towards the remainder of what the car is worth)...we don't know what we are going to do yet.

Thanks,
Footprints

[ready2puke]

Thats crappy that they are coming to you home? Why did they pick you for that? Looks like I've read someone else in Fla got that also. Is it a Fla thing or what? Anyone in Ca. have an apprasier come check out your home? Wonder how common that is in Ca.

[justbroke]

Yes, it is FL, and I wasn't sure if the 4,000 wildcard was true or not. But I thought it was only per couple? So we have a total of 6k all together? Our lawyer hasn't been very helpful....

If we do get $4000 wildcard, we might put it towards our car if possible...and then make payments to the trustee (towards the remainder of what the car is worth)...we don't know what we are going to do yet.

Thanks,
Footprints

You get $4,000 EACH. My favorite place for these "decisions" and what's going on in Florida Bankrtupcy law is the Bankruptcy Law Network...

http://www.************************/...eased-to-4000/

Even though that article isn't clear, recent caselaw in the Southern and Middle Districts of Florida have proven that the homestead exemption is in ADDITION to the already $1,000 wildcard exemption.

So, you would get $10,000.00 as a married couple filing Bankruptcy JOINTLY. If you file as an individual, you get $5,000.00.

Hope that helps.

[justbroke]

Thats crappy that they are coming to you home? Why did they pick you for that? Looks like I've read someone else in Fla got that also. Is it a Fla thing or what? Anyone in Ca. have an apprasier come check out your home? Wonder how common that is in Ca.

The Trustee has to audit a certain percentage of cases. It's like 0.4%, so 1 in 250 get the "full" treatment.

[FreshLikeADaisy]

Footprints, ditto to what has already been said regarding the $4000 unused homestead exemption. I don't know if you're trying to keep a home or not, but if you have no equity in a home that you are trying to exempt (in other words, you own a home but it has no equity, or you don't own a home at all) you're eligible for it.

Don't forget about your $1000 motor vehicle exemptions, either: if you have a car (or cars) that's another $2000 for you ($1k for each filer). Unlike the unused homestead exemption, though, the motor vehicle exemptions MUST be applied to motor vehicles -- it cannot be applied to any other asset.

Several people on this board have gone through the appraiser visit -- I know Southernbelle posted at length about hers, and I have read other posts as well -- so if you do a search on that you'll probably find a few reassuring posts. I haven't heard a horror story yet, put it that way.

Good luck!!!

[justbroke]

I'm personally not sure about a double unused homestead exemption for joint filers since I filed singly, but you DO at least get one.

Just FYI, it's per Debtor, as per Florida Statue 222.25. It is in the same paragraph -- without qualifications -- as 222.25(1) which is for the $1,000 automobile exemption.

[FreshLikeADaisy]

Thanks for the clarification, Justbroke! Good to know it's in there unequivocally, in case it comes up again.

[Footprints1973]

Just FYI, it's per Debtor, as per Florida Statue 222.25. It is in the same paragraph -- without qualifications -- as 222.25(1) which is for the $1,000 automobile exemption.

Thanks everyone! We have more wiggle room than I thought.
I'll let you know how it goes....

Footprints

[justbroke]

FYI, I use this document (or I used this document) to list the Statutory and Constitutional exemptions for Florida.

http://www.naldp.org/download/exemptions/Florida%20EXEMPTIONS.pdf

You'll clearly read under "Personal Property" exemptions that you receive $1,000 for single and $2,000 for joint. That exemption comes from the Florida Constitution Article X Paragraph 4(a).

You'll also read under "Personal Property" exemptions that you receive $4,000 for single and $8,000 for joint. That exemption comes from the Statutes (222.25(4)) This is only if you don't claim a homestead exemption.

There was a case in which the Trustee held that you can't get both. But two very smart Courts stated that a "Statute" can't override the Constitution. The Constitution can only be overridden by amendment. Hence, you get both the Statutory $4,000 and the Constitutional $1,000.

[paintinrosesred]

Let us know if they go in your undie drawer!! I wonder if you can follow them around??

[magyar123]

They can attempt to appraise what's in clear view, pictures on the wall, furniture, statues type of items, etc. but absent of a court ordered search warrent they cannot go through any drawers or closets.

[Footprints1973]

They can attempt to appraise what's in clear view, pictures on the wall, furniture, statues type of items, etc. but absent of a court ordered search warrent they cannot go through any drawers or closets.

Oh, that's goodl. I'll put just but my fur collections, diamonds, rolex watches in my drawers....oh, and my thourghbred horse in the closet.:


But seriously, that does make me feel a little "invaded".

Thanks
FP

[fltoo]

What district in FL? I have heard of one trustee in middle district giving people nightmares.