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In re Kristi L. Theunissen

Bankr. No.: 
04-10322
Chapter: 
7
Date of Decision: 
May 25, 2005
Issue: 
Whether Debtor has to turn over to the bankruptcy estate her joint tenancy interest in a home her mother gave her pre-petition where Debtor claimed she had no equitable or beneficial interest in the home and where Debtor’s mother said she created the joint tenancy only to ease the transfer of the home to her daughter upon her death?
Ruling: 
Based on the stipulated facts, the Court concluded Debtor’s mother had actually intended to give her daughter a remainder interest in the home following the mother’s life estate. The deed was reformed to reflect that intention. Debtor was then ordered to turn over to the bankruptcy estate the value, on the petition date, of her remainder interest. The Court did not find any constructive or implied trust existed.
Full Bankruptcy Court Decision: