Francis N. Soave’s Answers

Francis N. Soave

Saint Clair Bankruptcy Attorney.

Contributor Level 10
  1. Can I quick claim deed land I've own for over 20 years to a trusted family member so that creditors can not place liens on it?

    Answered almost 4 years ago.

    1. Christine Marie Heckler
    2. Francis N. Soave
    2 lawyer answers

    First of all, the document you are referring to is a Quit Claim Deed, not quick. Secondly, what you can do, and whether it will result in protection from your creditors are two different questions. There aren't enough facts presented in your question to say whether making such a transfer will be a fraudulent conveyance. What other assets will you have after the transfer? Will you be insolvent? If the creditors can prove that the deed is a fraudulent conveyance, they can sue your...

  2. SHORT SALE RELATED QUESTION. What factors does the lending bank consider to approve short sale???????

    Answered almost 4 years ago.

    1. Francis N. Soave
    2. Daniel Robert Hamad
    2 lawyer answers

    I think that its only a matter of time before you are in default on your mortgage. Whether by choice or circumstrances, you are not going to stay current on this mortgage. That being said, there are few options. Short sale is one, deed in lieu is another, and foreclosure is the final solution. Most lenders will take the same applicaiton from you for consideration of both short sale and deed in lieu. Your lender will tell you the requirements. Many require the home to be listed for sale...

  3. Can I evict an independent contractor with 24 hours notice?

    Answered almost 4 years ago.

    1. Christine Marie Heckler
    2. Francis N. Soave
    2 lawyer answers

    For the preservation and protection of your interests in your ongoing business and customer goodwill, I think you should terminate her tenancy immediately, in writing, with a refund of the pro-rated prepaid rent. Don't ask for her agreement to do it. Simply empty the room and put her things in boxes and deliver them to her with the written termination and a check. Call the police ahead of time if you think there will be a problem. She is a commerical tenant at suffrance, at best, and...

  4. My father is recently deceased. Before he passed he gave me specific instructions...

    Answered almost 4 years ago.

    1. Francis N. Soave
    2. Paul A. Smolinski
    3. Henry Daniel Lively
    3 lawyer answers

    I am sorry for the recent loss of your father. You may be required to seek an order from the Probate Court to recover the $30,000. If his ex-wife becomes aware that it is available in an account she has access to, it may become much more difficulte or impossible if you don't act quickly. Have you filed an inventory in the probate estate? Did you list this account? Did you know that creditor claims can be contested in Probate? You may be able to eliminate some of them this way. The...

  5. Can my mom do a short sale?

    Answered almost 4 years ago.

    1. Christine Marie Heckler
    2. Andrew Sterling Longcore
    3. Francis N. Soave
    4. Rebecca Ann Kendel
    4 lawyer answers

    When the term short-sale is used in the context of loss mitigation, or foreclosure alternative, it means literally that. A sale. There is no lender that I know of that will sell the property to the borrower (or in your case, the survivor) for less than the balance on the note. In fact, an affidavit is usually required certifying that the buyer is not related to the borrower. If your mother is trying to short-sell the house, and they are asking her for her financial information, there isn'...

  6. What determines the deficiency judgements on foreclosures?

    Answered almost 4 years ago.

    1. Andrew Sterling Longcore
    2. Francis N. Soave
    3. Michael James Wang
    4. Karmika Victoria Rubin
    4 lawyer answers

    In Michigan, there are two foreclosure options open to the lender: advertisement, or judicial. The vast majority are done by advertisement. Typically, the lender presents a standing bid of the outstanding balance of the mortgage to the deputy conducting the sale. In the present market, and with your facts regarding value, there would be no higher bidder. In such case, the lender would have title to your home after the redemption period, and there would be no deficiency. If the lender...

  7. How long after filing chapter 7 can you buy property outright?

    Answered almost 4 years ago.

    1. Francis N. Soave
    2. Dorothy G Bunce
    3. Norma Nodal Duenas
    4. Lysbeth Goodman
    4 lawyer answers

    There is no legal authority barring you from purchasing property after bankruptcy discharge. There may be restrictions on borrowing money, or selling property, DURING your bankruptcy, but there are no restrictions on borrowing, buying or selling after bankruptcy discharge. Many rumors and urban legends persist about the perils of bankruptcy, and most, like this one, are untrue. Only take legal advise from a bankruptcy attorney.

  8. Can i claim a private loan in bankruptcy?

    Answered almost 4 years ago.

    1. Francis N. Soave
    2. Michael Grennier
    3. Dorothy G Bunce
    4. Norma Nodal Duenas
    4 lawyer answers

    Unfortunately, student loans are not dischargable.

  9. If I have a copy of the will and trust and I want to know the assets in the estate and Im a heir of the trust, can I get info?

    Answered about 4 years ago.

    1. Francis N. Soave
    2. James P. Frederick
    3. James Brian Thomas
    3 lawyer answers

    If the estate closed without being fully administered, you should be able to petition to have it re-opened. Ask the court to appoint you as the PR. Then ask for a discovery order. Serve subpoenas for deposition and requests for production of documents on the former PR, the attorney for the former PR, the trustee, and all the other interested persons you can identify. This should provide you with the opportunity to find out everything you want to know, under oath. In attorney time it wil...

  10. When a Will is in place of an deceased person. Who notifies you that the person has a will in place.

    Answered about 4 years ago.

    1. Tracey M. Martin-Henry
    2. Carol A. Morris
    3. Francis N. Soave
    4. Jason A. Waddell
    4 lawyer answers

    The personal representative is responsible for notifying the beneficiaries. Based on the many questions in this forum which seem as though they may all have been posted by you over the last couple days (or else there is an amazing coincidence of people with old estates who didn't get notice). One of the things to keep in mind with probate is that it is still somewhat of a party-initiative forum. By that I mean that it is up to heirs, devisees (interested persons) to come forward and...