Hello,
I live in a building that also houses a small business that I own and I filed homestead exemption on this property in 1999, 2000, & 2001. It is the only land that I own and it is where I live more than 50% of the time. (I tend to drift - I occasionally stay with my mom, or my grandparents, or my girlfriend.)
Sometime around 2001 I was a cosigner on a home loan for my mom. I am not actually on the deed to the home - I double checked this about a month ago. I just am the cosigner with the bank. But the courts got things mixed up when she filed for homestead exemption and it turns out I no longer have homestead exemption in the property that I believed that I did.
I filed Chapter 7 under the old law and have my meeting in November. I told the lawyer I did have homestead exemption in my building and the lawyer told me I would be able to keep it for sure as it falls far below the exemption level of my state.
Just due to a weird feeling about it - generally feeling nervous about everything, I checked with the courthouse last Friday and they tell me that I do NOT have homestead exemption and its listed in the county as commercial property. I really did think that I had the exemption and it was my responsibility to check from year to year. They told me I could refile the exemption - no problem - but I would have to wait until January 1st. My meeting is in mid-November.
What can I do to keep my property?? It is very important as it's where I'm living!
Can my lawyer file some kind of emergency homestead exemption? I mean, surely if I bought a house in April of this year there would be a way to keep it under bankruptcy law despite not being able to file a HE until January 1st. (They only accept these filings in Jan-Feb-March where I live each year.)
Or can it be based on where I'm actually living at now and where I intend to file an exemption?
Or am I just screwed now?
Or since the bk wont actually be discharged until January, will I have time to file properly and I should just explain this to a trustee in the meantime?
Or if I explain this, will they try to take the property away?
I don't know what to do!
I live in a building that also houses a small business that I own and I filed homestead exemption on this property in 1999, 2000, & 2001. It is the only land that I own and it is where I live more than 50% of the time. (I tend to drift - I occasionally stay with my mom, or my grandparents, or my girlfriend.)
Sometime around 2001 I was a cosigner on a home loan for my mom. I am not actually on the deed to the home - I double checked this about a month ago. I just am the cosigner with the bank. But the courts got things mixed up when she filed for homestead exemption and it turns out I no longer have homestead exemption in the property that I believed that I did.
I filed Chapter 7 under the old law and have my meeting in November. I told the lawyer I did have homestead exemption in my building and the lawyer told me I would be able to keep it for sure as it falls far below the exemption level of my state.
Just due to a weird feeling about it - generally feeling nervous about everything, I checked with the courthouse last Friday and they tell me that I do NOT have homestead exemption and its listed in the county as commercial property. I really did think that I had the exemption and it was my responsibility to check from year to year. They told me I could refile the exemption - no problem - but I would have to wait until January 1st. My meeting is in mid-November.
What can I do to keep my property?? It is very important as it's where I'm living!
Can my lawyer file some kind of emergency homestead exemption? I mean, surely if I bought a house in April of this year there would be a way to keep it under bankruptcy law despite not being able to file a HE until January 1st. (They only accept these filings in Jan-Feb-March where I live each year.)
Or can it be based on where I'm actually living at now and where I intend to file an exemption?
Or am I just screwed now?
Or since the bk wont actually be discharged until January, will I have time to file properly and I should just explain this to a trustee in the meantime?
Or if I explain this, will they try to take the property away?
I don't know what to do!
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