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California Community Property Keyed to Carrillo, 11th Ed.
Marriage of Braendle
Citation:
46 Cal. App. 4th 1037 (1996)Facts
Dina and Ruediger Braendle’s marriage was dissolved by judgment on December 11, 1991. Ruediger was awarded stock in American Overseas valued at $1,438,651, while Dina received other property of lesser value. To equalize the division, Ruediger was ordered to pay Dina $483,393, secured by the American Overseas stock. The stock certificates were delivered to Dina’s counsel to hold as security. When Ruediger appealed, the court ordered the stock certificates held by the court clerk in lieu of an undertaking. After the appeal was affirmed, American Overseas obtained a judgment against Ruediger for $70,842.52 based on a debt he had disclosed during dissolution proceedings. American Overseas filed various liens and persuaded the sheriff to levy on the stock certificates held by the court clerk. Before the stock could be sold, Ruediger filed bankruptcy. The bankruptcy court granted relief from the automatic stay, and American Overseas noticed its intention to proceed with the sheriff’s sale. Dina moved ex parte to have the stock certificates released to her, and the trial court transferred ownership of the stock to her.
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