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California-Examptions-Law19

Page history last edited by abogado 9 years, 1 month ago

Assignment #5 - California Exemptions

1. Review the California Exemptions - look at the California Codes and then find Code of Civil Procedure, and then CCP 703 and 704.
See CCP 703
See CCP 704


How to bankruptcy exemptions work 
http://abogado.pbworks.com/w/page/56561782/exemptions-work

CCP 704 Exemptions - System 1 - CCP 704....
http://bankruptcy-law.freeadvice.com/bankruptcy-law/california-bankruptcy-exemptions.htm

CCP 703 Exemptions - Sytem 2 - CCP 703 ....
http://bankruptcy-law.freeadvice.com/bankruptcy-law/california-bankruptcy-exemptions-2.htm

listen to the podcast click here podcast by Prof J. on exemptions

2. Then answer the following questions: 

a. California opts out of using the Federal Exemptions, so where do you find the California exemptions (cite code sections please) ? 

b. If you had an automobile worth $2700 would it be exempt under CCP 703 or CCP 704? 

c. If you owned a house in which you had equity of $50,000, which exemption would be best under California Exemptions? CCP 703 or 704

d. Can a debtor use some of the 703 exemptions, and also some of the 704, i.e. put together the "best of both worlds" so to speak, by using both 703 and 704? 

e. if a Husband and Wife file jointly, can Husband take one exemption (i.e 703), and the wife take the other (704)? 

f. if you do not own a house, which exemptions would be the best to take, 703, and 704 and why? 

 

 

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