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Husband entiled to homestead exemption?
> I'd say the wife is entilted to assert the homestead exemption.
>
> Mark Jessee
Rule 4003 says:
A debtor shall list the property claimed as exempt under Section 522
of the code on schedule of assets required to be filed by Rule 1007.
If the debtor fails to claim exemptions or file the schedule within
the time specified in Rule 1007, a dependant of the debtor may file
the list within 30 days thereafter.
8th cir bap says the debtor's dependants can only claim debtor's
homestead,
In re Alexander
288 B.R. 127
8th Cir.BAP (Minn.),2003.
husband claimed exemption, lost fight over exemption, wife Stephens,
then filed her own exemption....
"Stephens subsequently filed a motion seeking an order sustaining such
homestead exemption. The bankruptcy court denied Stephens' motion,
concluding that to the extent she sought to establish an exemption
interest of the Debtor in the Laurel Property, that matter had already
been decided and litigated to final conclusion, and to the extent she
sought to protect her separate interest in the property, the
bankruptcy court lacked jurisdiction over such matter."
The last part is the intersting part, only the debtor's rights are
within the jurisdiction of the bk court. Wifes exemption cannot be
asserted on a skd c. Query, can wife claim exemption from turnover or
sale order on her own behalf?
dennis
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Dave,
I'm curious about your answer. He is not entitled unless he
owns a homestead which it appears he does not because he transferred
it. If an argument was made that he does own it or some portion,
for example, if there was significant equity, wouldn't he be
entitled?
I am aware that if the trustee or a creditor goes and drags the
property back into the estate, he cannot then assert the exemption.
But what if he lists an ownership interest on Sched A (with
protective language about how he doesn't own it) and the exemption
on Sched C, doesn't he get the exemption if it turns out he owns
some interest?
Jon
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Why do you insist on trying to find us wrong Ty, you went to the source
and got the response.
CS
Charles Shamash, Esq.
Caceres & Shamash, LLP
8383 Wilshire Boulevard, Suite 1010
Beverly Hills, CA 90211-2409
Phone: (323) 852-1600 X 101
Facsimile: (323) 852-9009
Sent: Thursday, September 23, 2004 2:42 PM
To: cdcbaa@yahoogroups.com
Subject: RE: [cdcbaa] Husband entiled to homestead exemption?
no
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem
500 N. Brand Blvd., #460, Glendale, CA 91203
Tel: 818-507-6000 Fax: 818-507-6800
* Personal & small business bankruptcy specialist cert. by State Bar of
CA Bd of Legal Specialization.
Sent: Thursday, September 23, 2004 10:20 AM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] Husband entiled to homestead exemption?
Hello everyone,
I have a married client who filed an individual Ch. 7 case. He and
his wife purchased their home during the marriage, (title was held
as a married couple). Husband quitclaimed his interest PREPETITION
to his wife for refinancing reasons, (he was told to do this by the
lender to improve the refinance terms). Husband has always lived in
the home and makes the monthly mortgage payments. Is he entitled to
the homestead exemption even though he quitclaimed his interest to
his wife prepetition?
Thanks
Ty Takeuchi
P.S.
Stay out of this Paul, Charles & Joe
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The post was migrated from Yahoo.
Hello everyone,
I have a married client who filed an individual Ch. 7 case. He and
his wife purchased their home during the marriage, (title was held
as a married couple). Husband quitclaimed his interest PREPETITION
to his wife for refinancing reasons, (he was told to do this by the
lender to improve the refinance terms). Husband has always lived in
the home and makes the monthly mortgage payments. Is he entitled to
the homestead exemption even though he quitclaimed his interest to
his wife prepetition?
Thanks
Ty Takeuchi
P.S.
Stay out of this Paul, Charles & Joe
The post was migrated from Yahoo.