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Christopher L Cauble's Answers
- 82 Legal Answers
- 9 Legal Guides
2
Attorney answers:
Transfer of rental property into an LLC for asset protection under PA LLC law
I would look at the wisdom of doing this. What would be the point of transferring rental property into the LLC? The point of asset protection is to keep as few assets in the LLC as possible (if you are concerned about creditors of the LLC). You should keep the property in your own name and use the LLC as a property management business that leases the properties. That is what CPA's and attorneys usually recommend. Do not do any of these transfers without first discussing the tax and legal...
39 people marked this answer as helpful
1
Attorney answers:
Foreclosure and deficiency judgment under NV foreclosure law and procedures
Generally, a non-judicial forclosure in most states extinguishes the rights to seek a deficiency judgement. This is because lien forclosures constitute an election to forclose on the property rather than proceeding on the promissory note. However, it would depend on the documents that you signed and the law of your jurisdiction. You need to see a lawyer regarding the legal consequences and laws in Nevada. I will tell you that it is EXTREMELY rare for banks to proceed on deficiency...
17 people marked this answer as helpful
2
Attorney answers:
Deficiency Judgments on home equity loans in Oregon.
With all due respect to the above answer, it would be unlikely that Wells Fargo would get a deficiency judgment in Oregon if this is residential property. Oregon is a "non recourse" State. In situations where, at the time of the forclosure, the deed of trust is on a property that is your residence, there is no right to a deficiency judgment. You should see an Oregon lawyer to get the right answer to this question. I have seen a lot of confusion on this issue. Additionally, there is no...
5 people marked this answer as helpful
2
Attorney answers:
Can we do a short sale or foreclosure because we want to leave our house and know we can't sell?
I would need to have more facts--for instance, I would like to see the Deed of Trust, ect. Oregon is a limited deficiency state, The bank is limited to the real property if you STAY IN THE HOUSE and keep it as residential property. If you leave, the bank does have the option of pursuing a deficiency judgment. I would stay put and allow a forclosure. You can put the house on the market and try to sell it BUT if you just can't make the payments, there is no point. I do not support the...
5 people marked this answer as helpful
3
Attorney answers:
What reimbursement is my mother entitled to as PR of my grandmother's estate?
Your mother is entitled for reasonable costs incurred related to her services as personal representative of the estate. The expenses you described are generally considered to be "reasonable". However, the court must approve reimbursement of those costs in the final accounting and final distribution of fees and costs. I typically do not advise client to reimburse themselves without prior court approval. Your mother can request the court to approve reimbursement of these costs prior to final...
1 lawyer agreed with this answer
3
Attorney answers:
Can a lender pursue a deficiency judgment if the lender does not recover all that it is due through foreclosure
It depends on the manner of forclosure and the state. In California, if the bank pursues a trust deed forclosure non-judicially, then their sole recourse is the property. It is the same as Oregon. In my state, however, they can go Judically and pursue a defiency. However, banks are not doing this very often in Oregon, if at all. So, with due respect to the other posters here, you should see an attorney in your state and get jurisdiction specific advice. A bank CAN choose to pursue...
5 people marked this answer as helpful
1
Attorney answers:
I used TurboTax to file my 2008 taxes and now the State says I owe money because I took a tuition deduction that wasn’t correc
There is really no claim against the company in my opinion, unless there was some specific agreement that they would defend an audit or help defend an tax issue from the taxing authority that was wrong. The fact is that if you owe the tax, you owe the tax. You may have an argument that they should refund you the price of the software back, plus give you money for any penalties and interest--if you can prove that the software was wrong--on a common law negligence theory. If they do not agree...
1 person marked this answer as helpful
3
Attorney answers:
Easement on a property I'm considering purchasing
Easements are an exclusive or non exclusive right to possess your property for the pupose of access. If you are intending to use the easement area as your future yard, that will be seriously impacted by your neighbors easement rights. Easements may not be recinded or canceled without a recorded re-conveyance document signed by all of the current owners of the property. Addtionally, easements "run with the land", meaning that they bind all future dominant and servient owners. You need to...
1 person marked this answer as helpful
2
Attorney answers:
If my ex husband files bankruptcy & he's the primary loan holder on my car, can I lose my car?
Just because he files bankruptcy doesnt mean you will lose the car. I am assuming that the car was awarded to you and the title is in your name. I am also assuming that you are making the payments. As long as you remain current on the loan, the lender will have no recourse to reposess the loan. The bank will look to your husband to pay off the loan, however, and if he does not "reaffirm" the debt, his obligation to pay it will be discharged. Just continue to make payments and you will be...
1 person marked this answer as helpful
1
Attorney answers:
How do you find the best attorney?
Some modest means attorneys are OK but many are just skating by, The reality is that the best attorneys cost the most and have the best reputations. Some of them are willing to take a case pro-bono but there are SO MANY custody cases by people who can't really afford the "best". I don't do divorce cases but I have heard a lot of people who are myopic about what goes on in court when things go "bad" for them. Their lawyer was too quiet. He didnt "speak up". He wasn't "agressive". Well--...
1 person marked this answer as helpful