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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Had To Think About That A While Posted by Rick Harmon on November 08, 2003 at 9:16 PM In Reply to: Had To Think About That A While posted by SeanW on November 08, 2003 at 8:18 PM : I almost posted a reply, challenging your explanation. : But I think I get it. : The reasoning is: A person on the trust deed, is beholden to a creditor, and needs automatic stay to sort out his BK filing. : The reasoning is not: An owner of real estate needs automatic stay, to help protect his home. : I.e. if in my example, the husband had QCD to his cousin, and the cousin filed bankruptcy, that would have no effect on anything. The cousin doesn't owe money to anybody in the foreclosure process. ******************** Maybe. I think the issue is still related to the fact the Husband filed and must have named the lender in his petition. Lender and F/C trustee may not even know that H deeded off. Anyway, since they're still married, it's presumed that he still has a spousal interest. Also, as to why it was treated as a blown sale and opposed to 3rd party buyer getting relief of stay(?)...I dunno. Here's a clever idea: Why not have someone call the trustee and JUST ASK THEM! Rick Follow Ups: Horse's Mouth SeanW 3:54 AM, 11/09/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : I almost posted a reply, challenging your explanation. : : But I think I get it. : : The reasoning is: A person on the trust deed, is beholden to a creditor, and needs automatic stay to sort out his BK filing. : : The reasoning is not: An owner of real estate needs automatic stay, to help protect his home. : : I.e. if in my example, the husband had QCD to his cousin, and the cousin filed bankruptcy, that would have no effect on anything. The cousin doesn't owe money to anybody in the foreclosure process. : ******************** : Maybe. I think the issue is still related to the fact the Husband filed and must have named the lender in his petition. Lender and F/C trustee may not even know that H deeded off. Anyway, since they're still married, it's presumed that he still has a spousal interest. : Also, as to why it was treated as a blown sale and opposed to 3rd party buyer getting relief of stay(?)...I dunno. : Here's a clever idea: Why not have someone call the trustee and JUST ASK THEM! : Rick Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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