FL Bankruptcy in Florida - Revision history

Joetschida: /* I. Introduction */

2021-08-12T01:37:21Z

‎I. Introduction

Joetschida: /* XV. Miscellaneous */

2020-06-27T23:32:52Z

‎XV. Miscellaneous

Joetschida: /* VI. How Does Property Come Out of the Bankruptcy Estate? */

2020-06-27T23:30:42Z

‎VI. How Does Property Come Out of the Bankruptcy Estate?

Joetschida at 03:07, 27 June 2020

2020-06-27T03:07:31Z

Joetschida: /* II. Law */

2020-06-27T03:05:38Z

‎II. Law

Joetschida: /* I. Introduction */

2020-06-27T03:05:18Z

‎I. Introduction

Joetschida at 03:04, 27 June 2020

2020-06-27T03:04:44Z

Joetschida: /* V. Bankruptcy Estate */

2020-06-27T03:03:55Z

‎V. Bankruptcy Estate

Joetschida: /* X. Sale of Non-Exempt (Non-Homestead) Property */

2020-06-27T03:00:59Z

‎X. Sale of Non-Exempt (Non-Homestead) Property

Joetschida: /* VI. How Does Property Come Out of the Bankruptcy Estate? */

2020-06-27T02:59:07Z

‎VI. How Does Property Come Out of the Bankruptcy Estate?

@@ Line 1: / Line 1: @@
 ===I.	Introduction===
-:The purpose of this webinar is to explain how title to real property is treated in bankruptcy and to educate title agents as to what is needed to insure title to real property when the title-holder has filed bankruptcy.
+:The purpose of these material is to explain how title to real property is treated in bankruptcy and to educate title agents as to what is needed to insure title to real property when the title-holder has filed bankruptcy.
 ===II.	Law===

@@ Line 257: / Line 257: @@
 :E. 11 USC 364(a)(b).  Need court approval to obtain unsecured debt.
 :F. 11 USC 802(a)(1).  The appeal period is 14 days from the date of entry of an Order.
-G:. 11 USC 1301.  Stay against codebtor and relief.
+:G. 11 USC 1301.  Stay against codebtor and relief.
 :H. 11 USC 523.  List of Non-Dischargeable Debts
 :I.  Florida Statute 55.145.  Authority to cancel and discharge a judgment in State Court if the judgment was discharged in bankruptcy.
 :J.  Discharged does not mean the case is closed

@@ Line 64: / Line 64: @@
 :::c. Two debtors can stack and claim $250,000, In Re: Rasmussen, 349 B.R. 747 (Bankr M.D. Florida 2006)
 ::5. What happens to the title if homestead not claimed as exempt on Schedule C?
-:::a. Homestead not allowed as exempt and remains property of the bankruptcy estate. See Re: O’Malley, 601 B.R. 629 (Bankr ND Illinois
+:::a. Homestead not allowed as exempt and remains property of the bankruptcy estate. See Re: O’Malley,601B.R.629 (Bankr ND Illinois
-)
+:::2019)
 :B. Abandonment
 ::1. Actual Abandonment:

@@ Line 7: / Line 7: @@
 :C. Local Rules
-==III.	Bankruptcy Chapters==
+===III.	Bankruptcy Chapters===
 :A.  Chapter 7 – Liquidation
 ::1. Trustee appointed to liquidate assets and pay claims
@@ Line 24: / Line 24: @@
 :::3. Confirm Plan vests title in debtor subject to Plan
-==IV.	Bankruptcy Schedules==
+===IV.	Bankruptcy Schedules===
 :11 USC 521(a).  Debtor shall file a list of creditors, a schedule of assets and liabilities, a schedule of current income and current expenditures, and a statement of the debtor’s financial affairs.
 :A.  Schedule A – lists all real property
@@ Line 30: / Line 30: @@
 :C.  Schedule F - lists debts
-==V.	Bankruptcy Estate==
+===V.	Bankruptcy Estate===
 :Under 11 USC 541, upon filing a Petition for Bankruptcy, all of the debtor’s property becomes property of the bankruptcy estate until exempted, abandoned, sold or the bankruptcy case is closed.
@@ Line 47: / Line 47: @@
 :D. 11 USC 554(d): “Unless the court orders otherwise, property of the estate that is not abandoned under this section and that is not administered in the case remains property of the estate.”
-==VI.	How Does Property Come Out of the Bankruptcy Estate?==
+===VI.	How Does Property Come Out of the Bankruptcy Estate?===
 :A. Exempt Property. Under 11 USAC 541, all of the debtor’s property becomes property of the bankruptcy estate until exempted under 11 USC 522(b) and FS 222.20.
 ::1. 11 USC 522(b).  A debtor may declare certain property exempt from the bankruptcy estate.
@@ Line 102: / Line 102: @@
 ::2. 11 USC 1141(b). Ch 11 Vests title back in debtor
-==VII.	Automatic Stay==
+===VII.	Automatic Stay===
 :A.  Effect of Automatic Stay
 ::1. 11 USC 362(a)
@@ Line 133: / Line 133: @@
 :::b. Judicial Notice
-==VIII.	Postpetition Transactions==
+===VIII.	Postpetition Transactions===
 :A. 11 USC 549(a) - Except as provided in subparagraph (c) the trustee may avoid a transfer of property of the estate that occurs after the commencement of the case;
 :B. 11 USC 549(c) – Trustee may not avoid a transfer of an interest in real property if:
@@ Line 142: / Line 142: @@
 :D. See: In Re Zargaran, 216 F.Supp.3d 1340 (SD Florida 2016), UTS 2.1
-==IX.	Sale or Mortgage of Exempt (Homestead) Property by Debtor==
+===IX.	Sale or Mortgage of Exempt (Homestead) Property by Debtor===
 :A. Documents needed to insure a sale or mortgage of homestead (Exempt) property. Record certified copies of the following:
 ::1. Schedule C showing homestead listed as Exempt
@@ Line 149: / Line 149: @@
 ::4. Portion of bankruptcy docket showing no appeal of the Order Authorizing Sale (or mortgage).
-==X.	Sale of Non-Exempt (Non-Homestead) Property==
+===X.	Sale of Non-Exempt (Non-Homestead) Property===
 :A. 11 USC 363(c)(1) authorizes the trustee or a debtor in possession to sell property of the estate in the ordinary course of the business of the debtor without notice and without a hearing.  However, the sale of real property is rarely in the ordinary course of
 a debtor’s business unless the debtor is a builder.
@@ Line 179: / Line 179: @@
 ::4. Portion of Bankruptcy Docket showing no appeal of the Order Authorizing the Sale.
-==XI.	Chapter 11, 13 – Sale Pursuant to Plan==
+===XI.	Chapter 11, 13 – Sale Pursuant to Plan===
 :A. Plan
 ::1. 11 USC 1322(b)(9).  Plan may provide for vesting of property of the estate in the debtor or any other entity, on confirmation of the Plan.
@@ Line 190: / Line 190: @@
 ::3. Portion of bankruptcy docket evidencing that the Order Confirming the Plan was not appealed
-==XII.	Judgments==
+===XII.	Judgments===
 :A. Judgment Listed in Bankruptcy on Schedule F
 ::1.  Albritton v. General Portland Cement Co., 344 So.2d 574 (Fla. 1977): “A discharge in bankruptcy releases the bankrupt from personal liability for a judgment, but it does not affect a lien which arose from the judgment prior to bankruptcy and which attached to the property …”
@@ Line 216: / Line 216: @@
 ::3. Homestead Affidavit – Use it in lieu of a 522(f) Order
-==XIII.	Motion to Strip Junior Mortgages==
+===XIII.	Motion to Strip Junior Mortgages===
 :A. What is it?
 ::1. WFG Bulletin FL2016-07 Stripping Liens (Junior Mortgages) in Bankruptcy
@@ Line 238: / Line 238: @@
 :::d. Wait 45 days
- ==XIV.	Sale Free and Clear Of Liens==
+===XIV.	Sale Free and Clear Of Liens===
 :A. 11 USC 363(f). Authorizes a Trustee (Ch.7) or debtor in possession (Ch. 11 and 13) to sell property free and clear of liens based on the factors listed in 363(f).
 :B. 11 USC 6004(c).  A motion to sell property free and clear of liens shall be served on parties who have liens or other interests in the property to be sold.  Notice required by Rule 2002(a)(2) must be provided to the debtor, trustee and all creditors and must include the date of the hearing on the motion and the time within which bjections may be filed.
@@ Line 250: / Line 250: @@
 ::4. Portion of docket showing that the Order was not objected to or appealed
-==XV.	Miscellaneous==
+===XV.	Miscellaneous===
 :A. 11 USC 363(h).  A trustee may sell the debtor’s interest in property even if only an undivided interest as tenant in common, joint tenancy, or tenancy by the entirety.  A Ch. 13 debtor in possession does not have this authority under 11 USC 1303.
 :B. 11 USC 1306(a)(1).  Property of the Ch. 13 estate includes all property acquired by the debtor after commencement of the case before the case is closed, dismissed, or converted to a Ch. 7, 11 or 12.

@@ Line 2: / Line 2: @@
 :The purpose of this webinar is to explain how title to real property is treated in bankruptcy and to educate title agents as to what is needed to insure title to real property when the title-holder has filed bankruptcy.
-==II.	Law==
+===II.	Law===
 :A. Bankruptcy Code
 :B. Bankruptcy Rules

@@ Line 32: / Line 32: @@
 ==V.	Bankruptcy Estate==
-==Under 11 USC 541, upon filing a Petition for Bankruptcy, all of the debtor’s property becomes property of the bankruptcy estate until exempted, abandoned, sold or the bankruptcy case is closed.==
+:Under 11 USC 541, upon filing a Petition for Bankruptcy, all of the debtor’s property becomes property of the bankruptcy estate until exempted, abandoned, sold or the bankruptcy case is closed.
 :::Uniform Title Standard (“UTS”) 2.1
 :A.  Who has title to real property?