Question: 1. When Jon files a bankruptcy petition under Chapter 7 of the Bankruptcy Code, he lists the following debts: a. $40,000 in child support and

1. When Jon files a bankruptcy petition under Chapter 7 of the Bankruptcy Code, he lists the following debts: a. $40,000 in child support and alimony b. $25,000 for liabilities incurred with drinking and driving c. $500 past due cell phone bill d. $20,000 in past due student loans e. $2,500 in past due rent to his landlord How will these debts be treated in bankruptcy? Why?

2. Kathy conveys his estate, Sherwood, to her good friend, Betsy, a good faith purchaser on Wednesday. Betsy records the deed on Thursday. On Friday, Kathy executes an identical deed, except that the grantee is Ross. The second deed conveys Sherwood to Ross. He knows nothing of the prior conveyance to Betsy. Who owns Sherwood? Why?

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