Mortgage Matters in Times of COVID-19

Just a few more weeks ‘til principal and interest gotta be listed separately on a POC.

Come to NACTT in New York City for discussion of this opinion and other tax sale issues.

The final in our series of key decisions every bankruptcy practitioner should recognize—both by name and by the issues they resolve. This week’s ‘memory work’ is: Baker Botts v. ASARCO; Northern Pipeline v. Marathon Pipe Line; Exec. Benefits Ins. v. Arkison; and Wellness v. Sharif

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?

CATHY’S BACK!! CATHY’S BACK!!!!! After a brief absence, we are pleased as punch to have Cathy Moran back in our author rotation. Welcome back, Cathy. You have been missed. Hands up, everyone who has encountered a claim that a debt is non-dischargeable by reason of §523(a)(14). So, what’s this about credit cards and taxes?