The Bankruptcy Code Doesn’t Invalidate Transfer Restrictions in an Operating Agreement
The transfer restrictions in an LLC’s operating agreement are enforceable in a bankruptcy sale, the Tenth Circuit BAP says.
Chapter 7 Estate Takes Post-Petition Appreciation on Conversion from Chapter 13
Joining the ‘slight minority,’ Judge Fenimore rules that post-petition appreciation in the value of a homestead goes to the chapter 7 estate when the chapter 13 case converts.
Claiming ‘100% of FMV,' Debtors Keep Postpetition Appreciation in Exempt Assets
Ninth Circuit BAP interprets Taylor and Schwab to mean that a trustee cannot revisit the value of an exempt asset if the debtor claimed ‘100% of FMV’ and there was no timely objection.
Property Held in a Joint Tenancy Leaves the Estate on the Debtor’s Death
If a debtor owns property as a joint tenant with right of survivorship, the trustee has nothing to sell if the debtor dies.
Debtor Retains Appreciation in Nonexempt Property Sold During Chapter 13
Judge Rosania answered a question left open by the Tenth Circuit in Barrera.