[CLBS] An Oldie but Goodie

[Randal French]

Yes, an excellent decision,.  Whoever was the attorney for Fred Bahnmiller must be a genius, not to mention tall, dark and handsome with an incredibly quick wit and yet so humble and modest too.  Who was that guy?  So, then you have to think through how the deeding of the property to both siblings from the probate estate impacted the Bahnmiller analysis.


-----Original Message-----
From: April M. Linscott [mailto:linscotta at gmail.com] 
Sent: Thursday, July 12, 2012 10:53 AM
To: Randal French; 'Tyler S. Wirick'; clbs at admws.idaho.gov
Subject: RE: [CLBS] An Oldie but Goodie


Look at Bahnmiller v. Bahnmiller for a good treatment of how apportionment of proceeds is done in state court.

-----Original Message-----
From: clbs-bounces at admws.idaho.gov [mailto:clbs-bounces at admws.idaho.gov] On Behalf Of Randal French
Sent: Thursday, July 12, 2012 9:33 AM
To: Tyler S. Wirick; clbs at admws.idaho.gov
Subject: RE: [CLBS] An Oldie but Goodie

How recently did the property get deeded to Client and Brother?  As joint tenants, or tenants in common?  How much equity is in the property?  How would probate law treat this?  

Once the property was deeded to the Client and brother, then Client had some interest in the property.  I do not know if state law would recognize Brother's payment of loan payments, taxes or etc. in establishing the equivalent of a capital account, which might have to be recognized in bk court in determining the estate's interest..  At least arguably, the trustee could try to sell the property and then apportion the net proceeds between the co-owners.  363(h).  

Client may be better off selling her half interest to Brother and then waiting for a year to avoid any 547(b) avoidance claim against brother, to the extent that she does not receive full value at the time of the transfer, e.g. if she credits against the purchase price the antecedent debt that is owed to brother for all the payments he made.  Any more, I would also be very wary of having Client file a ch 7 within a year of any such transfer for no other reason than because under 727(a)(2), a party in interest could seek to deprive a debtor of any ch 7 discharge at all, based on a showing of a transfer of property, within one year before filing bk, with an intent to hinder, delay or defraud creditors.  

Tough issue.  

-----Original Message-----
From: clbs-bounces at admws.idaho.gov [mailto:clbs-bounces at admws.idaho.gov] On Behalf Of Tyler S. Wirick
Sent: Monday, July 09, 2012 5:00 PM
To: clbs at admws.idaho.gov
Subject: [CLBS] An Oldie but Goodie


Client just discovered that after her parents death her brother, for the sake of convenience in administering the estate, listed himself and client on the deceased parents' house. Brother has been making all the payments, paying taxes, and etc for years. Client wants to file BK but is concerned about the effect on brother's house. There is equity in the house, and Client is not moving into the house or planning to do so in the near future.
Thoughts? Property held for another?

 

Best regards,

 

Tyler S. Wirick
Law Offices of Tyler S. Wirick
250 Northwest Blvd. Suite 107A
Coeur d'Alene, Idaho 83814
Telephone: (208) 292-4200
Fax: (208) 292-4201
 <mailto:tyler.wirick at wiricklaw.com> tyler.wirick at wiricklaw.com


******NOTICE******
 
The information transmitted in this email and any attachments is intended only for the personal and confidential use of the intended recipients. This message may be or may contain privileged and confidential communications. If you as the reader are not the intended recipient, you are hereby notified that you have received this communication in error and that any retention, review, use, dissemination, distribution or copying of this communication or the information contained is strictly prohibited. If you have received this communication in error, please notify the sender immediately and delete the original message from your system.

 

_______________________________________________
CLBS mailing list
CLBS at admws.idaho.gov
https://admws.idaho.gov/mailman/listinfo/clbs




_______________________________________________
CLBS mailing list
CLBS at admws.idaho.gov
https://admws.idaho.gov/mailman/listinfo/clbs

!SIG:4fff00e4190329135813610!