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exempt-assets

Page history last edited by abogado 14 years, 11 months ago

day2

bk-facts

System 1 - System 2 - CA Exemptions.pdf


Schedule C - Property Claimed as Exempt

1. Real Property -  18115 Nordhoff Street,  Northridge, CA 91330-8212 - current fair market value $378,233.50 - 1st Mortage - Citybank  - $250,000 - 9511 West Pico Blvd, West Los Angeles, CA. 90035 - 2nd Mortgage - CoAmerica Bank  - $150,000 - 5543 Elton John Place, Eagleton, Colorado - net equity $378,233.50 - $250,000.00 and 2nd - $150,000  703.140(b)(1) $17,425 or 704.730 - $75K/$150K


2. Checking and Saving Accounts -  cash in bank account - Washington Mutual Bank, Foothill Blvd, Sylmar, Ca. 91342 - $22,500 and a safety deposit box - contents personal papers, birth ceritificate, etc. 703.140 (b)5) wildcard - $925 plus unused $17,425 or 704.070 - earnings - 75%


3. Cash on hand - between $3500 - 4000 -   703.140(b)5) wildcard


5. Household Goods and Furniture -  at least $10,500, including but not limited to the following items: stereo system, washer dryer, refrigerator, electric stove, misc furntiure, minor appliances, chairs, end tables, roll top desk, vacuum, bed and bedding, 20 inch tv, lawnmower, childrens toys, oriental rug $7822 - location:  18115 Nordhoff Street,  Northridge, CA 91330-8212  - 703.140(b)(3) $450 per single item - or  740.020 - 100%


6. books, pictures, other art objects, itemize ... at least $12,750 - 703.140(b)(6) $1,150 - 704.060 - $5,000 each spouse.


7. Wearing Apparel - clothing - $3250 -703.140(b)(3) $450 per item - 704.020 - 100%


8. Furs and Jewelry -  itemize ... $1988 - 703.140 (b)(4) $1150 - 704.040 $6075


9. firearms, sports, etc. - mountain bike at $1255, digital camera, antique gun collection - $4321  703.140(b)3) - $450 per item   - 704.020 - 100%


10. Stock Interests   Interest in 10,550 shares in Energy Free Company, Inc.  - a close coporation at $2.55 per share - see Specific Partnerhship Interest - 100% of partner's interest - Corp Code Sect. 15025


Pensions - IRA - $47,288 (is this exempt?) 703.140(b)(10)(e) - 100% - 704.115(e)(F) - necessary to support debtor - also see new BAPCA and IRC


11. Government and Corporate Bonds - U.S. Savings Bonds, at Simi Valley Savings Bank,  225 East Bay Street, Simi Valley, Ca.  .... value $1500 - if in name of your children, then not property of estate - just locate under "Property held for another" under Statement of Financial Affairs.


12. Other liquidated debts - wages -  Wages from 10/1/2008 to 1/31/2009 from ABV Laundry Service  .... $8540 - see CCP 704.070 75% or wildcard. (list as either disputed, or uncollectable within 180 days of the filing of the petition)

Negotiable Promissory Note from Mika Brizinski  - sister in law to Rose Perez-Finch.  .... $500 - list under wildcard exemption.


13. Automobile  -  2007 Toyota Camry - 4 cylinder in good condition (replacement value from nada.com) .... calculate fair market value - with $2500 still owed to Granados Federal Credit Union - 703.140(b)(2) - $2775 - 704.010 $2300


14. Office Equipment - used computer valued at Ebay price, used in business $1250 - Copier (used Xerox) - no known market for replacement value ... $0 - tools, equipment - CCP 704.060 - $5000 each debtor -  or implements, tools, etc. CCP 703.140(b)(6) $1,750


15. Copyright - Copyright in book published by Aspen Publshing Inc. ("How to Go Into Practice as an Independent Paralegal Without Missing a Meal") ..... value unknown - argue that value is small or not collecable within 180 days of filing of petition


 

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