It Could Happen To You: Texas’ Homestead Exemption Preempted By Federal Law

We are pleased to provide a detailed guide to new guidelines for Flex Modifications effective both 11/1 and 12/1.

“Attending the NACTT Annual Seminar provided the opportunity to catch up with Chapter 13 colleagues from around the country who are quickly becoming good friends; and to build relationships with colleagues who have recently joined our niche’ of the bankruptcy field.”

Community property works differently in bankruptcy. I probably don’t have to tell you that. On the issue of assets and debts, community property is pretty straightforward. All of the community property comes into the estate upon the commencement of a bankruptcy case, even when only one spouse files. §541(a)(2). Every creditor with a right to be paid from the community can file a claim, regardless of which spouse incurred the debt. §101(7). So creditors of the nonfiling spouse are proper claimants in the filing spouse’s bankruptcy case. If the bankruptcy estate contains separate property as well, §726 creates a distribution scheme that segregates community assets from separate property assets in paying community and non community debts. So far pretty straightforward. Right?

District of Idaho Announces Passing of Chief Bankruptcy Judge Joseph M. Meier