Hi, I'm hoping someone can help with a question I have regarding Schedule C 1601(a)(2), which states:: "ANY PROPERTY (total net value not to exceed $3,500 less any amount used under N.C.G.S. 1C-1601 (a)(1) and after reduction for overages in categories 2, 3, and 4).
: My question is wouldn't I be entitled to the $3,500 exemption for property (house) which is not my residence. The equity is approximately $5,000 which would be divided by two since it is jointly owned, leaving my portion at $2,500. My thinking is my portion would fall under the exemption.
: The property was accidentally left in my name by an ex, which I forgot about at the time of my chapter 7 filing. Had I realized it was still in my name, I obviously would have had my name removed before filing my bankruptcy. It has made a huge mess of my plans to be rid of my debt. But anyway, my attorney has never mentioned the fact that my portion of the equity may be exempt. So I am doing my own investigation and looking for options.
: I would greatly appreciate any help.
Actually my attorney said that the exemption does not apply in my case. I also forgot to mention that he suggested I convert to 13, which he has done (and charged an additional fee) and says I have to pay back my portion of the equity. Something sounds fishy to me.
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