Separation Agreements that are incorporated into a divorce decree (and decrees of divorce themselves) pose difficult and sometimes unexpected results in bankruptcy. Many of the general rules of bankruptcy can be dramatically altered with a separation agreement or divorce decree. This article discusses a few of the problems that divorces and divorce decrees pose in [...]
-->
Can I Discharge Federal or State Taxes in Bankruptcy?
-->“I heard that I can discharge my tax debt, is that true?” The preceding question is one that is frequently posed in our Utah bankruptcy practice. Federal and State income taxes may be eligible for discharge under Chapter 7 or Chapter 13 of the bankruptcy code under certain circumstances. Chapter 7 bankruptcy provides for a [...]
Understanding Your Rights: Tenants Following the Landlord’s Foreclosure
-->In the wake of the U.S. foreclosure crisis, and as part of the Helping Families Save Their Homes Act of 2009, congress enacted the Protecting Tenants at Foreclosure Act (“PTFA”). This relatively unknown piece of legislation has significant importance to tenants of property that is foreclosed. Legislative history of the PTFA reveals that “for too [...]
Loan Modification or Chapter 13 Cram-down?
-->In 2009 Congress enacted the Helping Families Save Their Homes Act of 2009, which among other things requires federally insured lenders to engage in loss mitigation actions for the purpose of providing an alternative to foreclosure, including forbearance, loan modification, and deeds in lieu of foreclosure. Perhaps the most popular among these initiatives is loan [...]
Most Estate Plans Don’t Work!
-->It may come to a surprise to most people to hear an estate planning attorney admit that most estate plans don’t work. In our experience, however, that is indeed the sad reality. They “don’t work” because they fail to meet the expectations of planner. That’s to say if the decedent could see what happened to [...]
Court Denies Wells Fargo’s Attempt to Invalidate Lease
-->National lender Wells Fargo, N.A.’s (Wells Fargo) attempt to invalidate a residential lease following the foreclosure of a mortgage covering a Highland property was denied by the Fourth District Court in American Fork, Utah pursuant to the Protecting Tenants in Foreclosure Act of 2009. In 2008, the landlord of the subject property defaulted on his [...]
Adopt the Principal Paydown Plan
-->Since 2008 the U.S. real estate market has dogged our economic stability. The recession was largely caused by exotic mortgages enabled by mortgage-backed securities creating a false value of real estate. Three years later, Americans continue to struggle with the resultant negative equity in their homes. It is generally understood by experts and laymen that [...]
Welcome to our Legal Blog!
-->Welcome to Weeekes Law’s Legal Blog! This blog will be used to provide legal articles on new developments in the law, answers to common legal questions, and announcements regarding the law firm. We hope you find the information provided on our blog useful, informative and current. We encourage you to follow us, check back often [...]