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Does chapter 13 debtor need to get court's permission to
Posted: Wed Oct 02, 2013 5:31 pm
by Yahoo Bot
I was making a different point... I agree that *property of the
estate*does not revest.. But to the extent that property has been
properly claimed
as exempt and the Trustee has not filed an objection to the exemption, such
property is no longer property of the estate--so it does not need to
revest. *Taylor v. Freeland & Kronz,* 503 U.S.
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Does chapter 13 debtor need to get court's permission to
Posted: Wed Oct 02, 2013 4:50 pm
by Yahoo Bot
I may be going out on a limb here, but I don't think a motion would be
required, as property would be removed from the estate, so long as: (1)
the debtor claimed the equity in the vehicle as exempt; and (2) the
proceeds from the sale payable to the debtor do not exceed the dollar
amount of the claimed exemption at the time of filing. The answer might be
different if the debtor undervalued the asset (as in Schwab v. Reilly) or
if there was postpetition appreciation or if the debtor's equity had
increased as the result of payments on a secured loan between date of
filing and date of sale.
The *Gebhart *case, 621 F. F3d. 1206 (9th Cir. 2010), which has a good
discussion of relevant law. Here is an excerpt:
"The primary issue we must decide in these consolidated appeals is whether
the Trustee's failure to object to the homestead exemption claim within the
period allowed by statute resulted in the homestead property being
withdrawn from the bankruptcy estate at that point. The Supreme Court held
in *Taylor v. Freeland & Kronz,* 503 U.S.
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