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| Authored by: Anonymous on Sunday, October 07 2012 @ 03:19 PM EDT |
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| Authored by: Anonymous on Sunday, October 07 2012 @ 03:25 PM EDT |
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| Authored by: Anonymous on Sunday, October 07 2012 @ 05:39 PM EDT |
Hogan owned a home. He was not living in that home, which
means (presumably) he's also paying money to live elsewhere.
Hogan is a man who (at the time) had a large amount of debt.
He owned an asset that COULD have been sold to pay those
debts. Under the law, he should be forced to do so - that's
how bankruptcy typically works.
There's an exception in bankruptcy that you can't be forced
to sell your primary residence. These laws ONLY typically
apply to your primary residence (the California law, as PJ
quotes, is like this). Bankruptcy won't throw you out on
the street, but it can certainly force you to sell an
investment property or a vacation home.
Somehow, for reasons unclear, Hogan was NOT forced to sell
this property, despite it NOT being his primary residence,
and so it not qualifying for protection under the homestead
law. That "shouldn't" happen.
Whether "someone else" was living there shouldn't be
availing. For example, if I have an investment property
that someone's renting, I can still be forced to sell it -
the buyer simply takes over the rent due under the lease (or
more complicated things happen, depending on the state).
And if someone's living there rent-free, that's generally
not a reason either - if anything, it's squandering a
valuable asset (a rentable property) by giving it away. The
buyer might (depending on the local law) be obliged to keep
the resident as a tenant, but on a lease. [ Reply to This | Parent | # ]
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| Authored by: Tufty on Sunday, October 07 2012 @ 07:02 PM EDT |
I wonder if it was rented out to provide an income?
---
Linux powered squirrel.[ Reply to This | Parent | # ]
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| Authored by: rsteinmetz70112 on Monday, October 08 2012 @ 12:22 AM EDT |
I was wondering the same thing. It fits the facts as far as we know them.
---
Rsteinmetz - IANAL therefore my opinions are illegal.
"I could be wrong now, but I don't think so."
Randy Newman - The Title Theme from Monk
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| Authored by: Anonymous on Monday, October 08 2012 @ 10:53 AM EDT |
He owned (or was buying) a house. He lived elsewhere at the time and rented his
living space. The rented space could be considered temporary leaving the home
as his permanent base.[ Reply to This | Parent | # ]
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| Authored by: Anonymous on Monday, October 08 2012 @ 05:54 PM EDT |
I'm leaning more towards he's renting the house out for
$4,500/month. And it's in his wife's name (listing her as the
landlord). That would explain why his income is only
$4,000/month, the second listing, and the reason why he wants
to keep the house.
Have a great day:)
Patrick.[ Reply to This | Parent | # ]
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| Authored by: Anonymous on Monday, October 08 2012 @ 06:33 PM EDT |
Speculation is fun, but bandwidth absorbing. Why not go to the effort, find out,
and tell us?[ Reply to This | Parent | # ]
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| Authored by: Anonymous on Tuesday, October 09 2012 @ 08:08 AM EDT |
"instead of this rather clever move that to my...is beyond
the purpose of.. (SCO did the same)!
So, it seems that there are lawyers out there, who tell
their clients that this is a tactical move, that is legal to
use.
If it is being used as a way to block, what should not be
blocked, then the laws need to adjust to that tactic.
However, there are those who use bankruptcy, and the tactic,
to survive in a serious way, as it is "their only option" at
that point in time. So, it would be hard to "out-law" the
tactic that was used. This is where a smart judge is
needed, so that the judge can figure this out, and call a
spade a spade... and step in and use the power of the bench
to correct a wrong. However, maybe, in bankruptcy courts,
we don't have such judges (at least I have not see that in
this case or the SCO case, as it seems that bankruptcy is
used to suck all the money out of a company into the lawyers
estates, and drain the estate of the victim (and that should
be a crime, but it is legal to do as well).
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| Authored by: Anonymous on Tuesday, October 09 2012 @ 10:29 AM EDT |
Well if it was my home, not just a my house, but my home I would not sell it if
I had to, meed to, or wanted to take a job in a location I did not want to be in
no matter how long I was compelled to work there.[ Reply to This | Parent | # ]
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