[Marshamoreno] Fwd: insolvency

[Jason Mackay]

Is the land on the hill officially in your guys' names or us it held by a trust?

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-----Original Message-----
From: Jason Mackay
Sent: Friday, July 01, 2011 10:58 AM
To: susanr at baymoon.com; marshamoreno at armory.com
Subject: Re: [Marshamoreno] Fwd:  insolvency

So the land on the hill basically screws us it sounds like. 

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From: Susan Robinson
Sent: Friday, July 01, 2011 10:49 AM
To: marshamoreno at armory.com
Subject: [Marshamoreno] Fwd:  insolvency



> Basically, you just total up all of her assets (current fair market 
> value ) including home, cars, 401k, IRAs, land, etc then subtract the 
> amount she is in debt (including mortages, credit cards, etc) at the 
> time the debt is forgiven (so before it was settled). If the amount of 
> debt is larger than the amount of assets, then she is insovent.
> 
> Make sense?
> Susan
> 
> -------- Original Message --------
> Subject: [Marshamoreno] insolvency
> Date: Fri, 1 Jul 2011 10:40:44 -0700
> From: Richard Robinson <chigorin at gmail.com>
> To: marshamoreno at armory.com
> 
> 
> 
> hi --
> 
> Jason wants to know what it takes to establish insolvency. Do you have 
> the official requirements/process/definition for that? Or pointers to it?
> 
> Jason just dissolved $20k of Marsha's debt. There is more to Marsha's debt.
> 
> Richard
>