《楊清泉律師專欄》CONTENTS OF LIEN STRIP JUDGMENT IN CHAPTER 13(Part II)

《楊清泉律師專欄》CONTENTS OF LIEN STRIP JUDGMENT IN CHAPTER 13(Part I)

3. Avoidance of defendant’s junior lien is contingent upon debtor’s completion of the chapter 13 plan and the debtor’s receipt of a chapter 13 discharge.

4. Defendant shall retain its lien in the junior position for the full amount due under the corresponding note and lien in the event of either the dismissal of debtor’s chapter 13 case, the conversion of debtor’s chapter case to any other chapter under the bankruptcy code, if debtor completes the chapter 13 plan but does not receive a discharge, or if the property is sold or refinanced prior to debtor’s receipt of the chapter 13 discharge.

5. In the event that the holder of the first position lien of any senior lien on the property forecloses on its interest and extinguishes defendant’s lien rights prior to debtor’s completion of the chapter 13 plan and receipt of a chapter 13 discharge, defendant’s lien shall attach to the proceeds greater than necessary to pay the senior lien, if any, from the foreclosure sale.

Lawrence Bautista Yang is a graduate of Georgetown University Law Center and has been in law practice for thirty+ years. He specializes in bankruptcy, business and civil litigation and has handled more than four thousand successful bankruptcy cases in California. He speaks Mandarin & Fujien and looks forward to discussing your case with you personally. Please call Angie, Barbara or Jess at (626) 284-1142 for an appointment at 1000 S Fremont Ave Bldg A-1 Suite 1125 Unit 58 Alhambra, CA 91803.