The bankruptcy code acknowledges the validity of the homestead exemption.Written by John E. Roush
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As popularity of debtors' prison declined, concept of giving debtor a fresh start became one of primary purposes of bankruptcy process. It is important to remember that a bankruptcy is a personal action which at time of discharge gives petitioner (formerly debtor) a fresh start. The property owned by petitioner does not get fresh start, individual does.
The fact that bankruptcy is a personal action may shed some light on effect of a homestead exemption in a bankruptcy proceeding. The bankruptcy code acknowledges validity of homestead exemption. A homestead exemption is a personal exemption which, in an effort to preserve a person's home, protects a certain amount of an individual's equity in homestead property. State law determines extent and effect of a homestead exemption. Thus, if state law says that a person can declare a homestead up to $45,000 and if there is less than $45,000 equity in property, that equity in property is protected by homestead exemption. This principal operates without regard to Federal Bankruptcy Code.
By John E. Roush, Broker-Owner Atrium Real Estate Investments. John is a full-time real estate agent specializing in real estate investment and real estate investment education. To contact John send all correspondence to Johnr@investorloft.com © 2005 www.InvestorLoft.com
Investing In Real Estate InvestorsWritten by John E. Roush
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Even if you aren't interested in expanding your client database, at least consider protecting turf you have for so long spent tireless amounts of time and financial resources to maintain their allegiance. On other hand if you are looking at your real estate career and are wondering how to reposition yourself for market growth certainly to go well into 2025, here are a few known facts about how real estate investors can improve your business. Real Estate Investors are literally everywhere. Successfully tapping into your current database could increase your annual commissions by 20-30%. Real Estate Investors will be loyal to professional that helps fill gap of their investment education. Workshops, mentoring groups, finding "golden deals" in your market makes a huge impact! Investing in Real Estate Investors doesn't have to mean that you lose your "typical" residential realtor position. Being a real estate investment specialist means you are smarter than average realtor in market. Mortgage professionals are struggling to provide real estate investors with property deals, so when you can place an investor into a good deal referrals will begin to flow even more. Real Estate Investors tend to be more conscientious about your personal time away. Investors also like to shop Monday-Friday for their deals before "Weekend Warrior" investors get out into competition. This translates into more normal hours and days of operation for you and your business. Real Estate Investors buy-sell cycles are shorter than primary home purchasers resulting in more transactions in shorter time-frames. If any of these points are encouraging you to seek new opportunities in your business then make sure to sign up for monthly "Grow your Real Estate Investment business" e-mail newsletter from InvestorLoft.com additionally, other excellent tools to improve and expand your real estate business can be explored at InvestorLoft's educational Shoppe.
John E. Roush, Broker-Owner Atrium Real Estate Investments. John is a full-time real estate agent specializing in real estate investment and real estate investment education. To contact John send all correspondence to Johnr@investorloft.com © 2005 InvestorLoft.com