January, 2013

My Name is on Title to Real Property, But I Don’t Own the Home! Can I file for California Bankruptcy Holding Bare Legal Title?

Be careful if you are contemplating a bankruptcy and you hold title to real property.  Even if you don’t believe you have any equitable interest in the home, a bankruptcy trustee may disagree with you. A common scenario is where you take title to a residence your relative owns.  Imagine your parents want to leave their home to you as a probate avoidance device.  Well, perhaps they should...

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Help! I Don’t Pass the California Chapter 7 Bankruptcy Means Test! Now what?

In all chapter 7 individual cases where consumer debts are at issue, the persons filing for chapter 7 bankruptcy are subject to the Chapter 7 Means Test within official Bankruptcy Form 22.  Again the means test, in short, determines whether or not you have too much disposable income for purposes of filing for chapter 7 bankruptcy. What happens though if you do not pass the means test?   Is all...

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