This document addresses the question of Bankruptcy in pre-1989 agrements, stating specifically that the granting of relief under the Bankruptcy Code to any Party to this Agreement as debtor, this Agreement should be held to be an executory contract under the Bankruptcy Code, then any remaining Party shall be entitled to a determination by debtor or any trustee for debtor within thirty (30) days.
California Bankruptcy Pre 1989 Agreements
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Multi-State
Control #:
US-OG-696
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Word;
Rich Text
Instant download
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How to fill out Bankruptcy Pre 1989 Agreements?
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FAQ
§ 704.100 A policy with no cash value is totally exempt. The maximum exemption for the cash value of a policy is $13,975, or doubled if married. Benefits from matured life insurance or annuity policies are exempt to the extent reasonably necessary for the support of the debtor and his or her spouse or dependents.
California 704 Personal Property Exemptions Household items and personal effects - 704.020. Residential building materials to repair or improve home up to $3,825 - 704.030. Jewelry, heirlooms, and works of art up to $9,525 - 704.040. Health aids - 704.050.
If you are a party to a lease or contract and the other party files for bankruptcy, you must continue performing your obligations while the debtor determines whether to assume or reject your contract.
California Bankruptcy Exemptions ? Section 704 protection: Vehicle-Allows you to protect up to $3325 in the value of any number of vehicles. Jewelry-Allows you to protect Jewelry, heirlooms and works of art up to $8725.
Wildcard ? Up to $1,550 in any property you own, plus you can use any unused portion of the homestead protection as a wildcard. This means that if you have no home or equity in your home, you can use the $29,725 from the homestead to protect any asset or property you own.
Section 704.730. 704.730. (a) The amount of the homestead exemption is the greater of the following: (1) The countywide median sale price for a single-family home in the calendar year prior to the calendar year in which the judgment debtor claims the exemption, not to exceed six hundred thousand dollars ($600,000).
Code Section 703 is generally utilized where there is no equity or minimal equity in a home. Code Section 703 provides a wildcard protection amount that can be utilized to protect any asset, if that wildcard is not utilized to protect your homestead.
