[CLBS] Proceeds of prepetition sale of real property in Chapter 7

[Robert Brower]

Was the sale of the real property formerly debtors residence and what was
the date of sale as debtor may have a homestead in the proceeds.

-----Original Message-----
From: CLBS [mailto:clbs-bounces at admws.idaho.gov] On Behalf Of Ford Elsaesser
Sent: Wednesday, December 31, 2014 9:44 AM
To: cldlaw at gmail.com; 'Michael Jacques'; CLBS at admws.idaho.gov
Subject: Re: [CLBS] Proceeds of prepetition sale of real property in Chapter
7

Clearly non-exempt property of the estate-converting to cash and then exempt
property carries real risk of its own-ford

-----Original Message-----
From: CLBS [mailto:clbs-bounces at admws.idaho.gov] On Behalf Of Catherine
Dullea
Sent: Wednesday, December 31, 2014 9:29 AM
To: 'Michael Jacques'; CLBS at admws.idaho.gov
Subject: Re: [CLBS] Proceeds of prepetition sale of real property in Chapter
7

I'm pretty sure it's totally unprotected, but I wonder if she could sell the
note and purchase an annuity.  Anyone think this might work?

-----Original Message-----
From: CLBS [mailto:clbs-bounces at admws.idaho.gov] On Behalf Of Michael
Jacques
Sent: Wednesday, December 31, 2014 8:42 AM
To: 'CLBS at admws.idaho.gov'
Subject: [CLBS] Proceeds of prepetition sale of real property in Chapter 7

I have a potential client who needs to file a Chapter 7 but currently
receives and lives on payments from a sale of real property which she holds
a deed of trust to.  How will those payments be treated in a chapter 7?

Any help is appreciated.


Michael Jacques
JACQUES LAW OFFICE, P.C.
Office: (208) 344-2224
Fax: (208) 287-4300
 
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