Maine Bankruptcy and Debt Relief Blog
Accuracy of Property Valuation
Posted on 10/11/2006 at 12:00 am by
Molleur Law Offices
Viewed 516 times
Bankruptcy Article #20
Hannigan v. White, 1st Circuit Court of Appeals
Decided on June 2, 2005
The First Circuit held that the bankruptcy court was entitled to determine that a debtor, who intentional undervalued his property, could not later amend his homestead exemption to protect the actual value of the property, once that value was found by appraisal. The result of the decision is that substantial non-exempt equity in the real estate was available to creditors and the bankruptcy trustee.
Learn more about Exemptions
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James F. Molleur, Tanya Sambatakos, Andrea Stark and Jennifer Hayden, bankruptcy lawyers located in Portland, ME and Biddeford, Maine —certified in Maine as a bankruptcy specialist by the American Board of Certification. Licensed bankruptcy attorneys serving Maine and Massachussets. Molleur Law Office - James F. Molleur—Maine Debt Relief Agency and bankruptcy counseling for individuals & businesses in Biddeford, Portland, Sanford and throughout Southern Maine. Maine's only certified Consumer Bankruptcy Law Attorney also offers assistance to prevent foreclosure, file Chapter 7, Chapter 13 and more. The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.