John M. Crane’s Answers

John M. Crane

New York Real Estate Attorney.

Contributor Level 9
  1. Can I file for Bankrupcy ?

    Answered over 1 year ago.

    1. John M. Crane
    2. Eric Edward Rothstein
    3. Scott Benjamin Riddle
    4. Carl H Starrett II
    5. Jayson Lutzky
    5 lawyer answers

    You now have to take two debt counseling classes, but you are able to file bankruptcy. Whether Chapter 7 or 13, depends on your income/expenses, so this really is a trap for the unwary.

    8 lawyers agreed with this answer

  2. Does schedule I for Chapter 7 include income for the month after or before filing?

    Answered over 2 years ago.

    1. John M. Crane
    2. Stephen M Trezza
    3. Michael A. Koplen
    4. Michael Kim Bane
    4 lawyer answers

    The trustee was politely telling you to consider amending schedules I&J to reflect your current situation. If you are making 0, you cannot have a surplus. Also, your expenses were likely too low for this area. If he/she didn't telly you to amend and closed your meeting, you should be fine.

    5 lawyers agreed with this answer

  3. Must I list my child's social security survivor benefits on Schedule I of chapter 7 petition?

    Answered over 2 years ago.

    1. Robert A. Stumpf
    2. John M. Crane
    3. Michael Hal Schwartz
    4. Michael A. Koplen
    5. Dorothy G Bunce
    6. ···
    6 lawyer answers

    As Michael said, yes, but also list his expenses on Schedule J.

    5 lawyers agreed with this answer

  4. What's the real move out date? And would this be considered a hold over?

    Answered 4 months ago.

    1. John M. Crane
    2. Elazar Aryeh
    3. Steven Warren Smollens
    4. Glen Adam Kotten
    4 lawyer answers

    The answer is when the judge says you have to leave. After the 30 day notice, he would have to commence a hold over proceeding. The judge may take this as a retaliatory eviction, and if you have a section 8 lease, he might not be able to evict at all. I would immediately find a landlord/tenant attorney in your area! This is one time you do not want to be cheap and whine over legal fees. A good attorney can keep you in your apartment, no attorney and you could be evicted.

    Selected as best answer

  5. Joint Tenancy with right of survivorship

    Answered 4 months ago.

    1. Dana Whitney Atchley
    2. John M. Crane
    3. Noah D. Cohen
    4. Steven Warren Smollens
    4 lawyer answers

    If valid, his girlfriend now owns the home!

    4 lawyers agreed with this answer

  6. I am buying a home in Bronx NY that was missing a CofO for a 2 family, which I am now in contract for. however, the title Co...

    Answered 4 months ago.

    1. John M. Crane
    2. Dana Whitney Atchley
    3. Miriam E Zakarin
    4. Noah D. Cohen
    5. Steven Warren Smollens
    5 lawyer answers

    Do not close until this is resolved. If you do and the building department says 1 family you lose!

    4 lawyers agreed with this answer

  7. When filing for bankruptcy, does all income have to be reported?

    Answered over 1 year ago.

    1. John M. Crane
    2. Jayson Lutzky
    3. Michael A. Koplen
    4. Kevin B. Zazzera
    5. Andrew Daniel Myers
    6. ···
    7 lawyer answers

    YESSSSSSS! Anything else is a crime.

    4 lawyers agreed with this answer

  8. Can I combine exemptions?

    Answered almost 2 years ago.

    1. John M. Crane
    2. Aaron Matthew Tomczak
    3. Jonathan David Warner
    4. Ronald S. Cook
    5. Theodore Lyons Araujo
    5 lawyer answers

    If you select the federal exemption, you most certainly can take the standard vehicle exemption and use the wildcard for the balance.

    4 lawyers agreed with this answer

  9. Private Student loans and undue hardship?

    Answered over 2 years ago.

    1. Robert A. Stumpf
    2. John M. Crane
    3. Dorothy G Bunce
    4. Michael Hal Schwartz
    5. Christine C McCall
    6. ···
    7 lawyer answers

    An undue hardship is something that will remain with you for life. You cannot get rid of student loans, especially private ones, since the revision of the Code in 2005.

    4 lawyers agreed with this answer

  10. Interested in becoming a Licensed Real Estate Broker in New York City. How do I protect my personal assets?

    Answered 3 months ago.

    1. Richard J. Chertock
    2. John M. Crane
    3. Bryan Lane Berson
    4. Eric Edward Rothstein
    4 lawyer answers

    Form an LLC as an inexpensive short answer. Additionally, have E&O insurance for at least $5 million if possible. A more in depth solution would involve transferring your personal assets into a trust, but if you have $5 million coverage, you can wait on the trust. As a real estate attorney for 18 years, you can never have too much insurance! If money is an issue have at least $2 million to start. Sincerely, John Crane www.johnmcranepc.com John Crane

    3 lawyers agreed with this answer

    1 person marked this answer as helpful

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