Bankruptcy Attorney in Rancho Cucamonga, California

  What Effect Does Bankruptcy Have on Inheritances? If a Debtor receives money or property during the course of their bankruptcy, it can and frequently does damage the inheritance. A bankruptcy estate is formed when someone files for bankruptcy. The estate is made up of the Debtor’s property and assets. A bankruptcy estate is managed by a bankruptcy trustee, who acts as a legal owner of the Debtor’s property and assets for the duration of the case. As a result, any extra assets received by the Debtor while they are in bankruptcy, such as inheritances, are transferred to the estate. You might advise that the property be put under a revocable living trust rather than a will to avoid any inheritance being considered inside a bankruptcy estate. Several courts have ruled that property left in an abandoned building is considered abandoned. Property placed under a revocable living trust is not considered part of the bankruptcy estate, according to certain courts. Cash, heirlooms, real est...

  Foreclosure Attorney Rancho, California , is a legal process by which the entity issuing a mortgage acquires possession or ownership of the property secured by the mortgage because, as the California Finance Department says, the individual who acquires the mortgage has consistently failed to make mortgage payments. The property in question is usually a house. When buyers face the risk of foreclosure, buying a home almost always includes. When the bank acquires the property, it often auctiones the property to try and recoup its mortgage obligation balance as soon as feasible. Banks often try to sell the property as quickly as possible and for the biggest potential amount of money.   Forwarding of debtors who default on their mortgage payments is an option offered in all 50 states, including California. This allows the bank to sell the property with the help of a court. The aim is to have the house sold at the greatest practicable price as rapidly as possible. While it...