In re Blair
Nov
21
2005
Ruling
Debtors'payments made during the 1,215 days prior to filing that increased their homestead's equity value did not create an interest in real property and thus were not subject to the statutory cap on electing a state homestead exemption.
Procedural posture
Debtors filed a voluntary chapter 7 petition and elected the Texas exemptions, including the generous homestead exemption. Movant unsecured creditor objected to the claim of exemption, arguing that the debtors were subject to the $125,000 cap on their homestead exemption provided in 11 U.S.C. § 522(p).
ABI Membership is required to access the full summary of In re Blair Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
: