In re Kane
Jan
12
2006
Ruling
Bankruptcy court, in holding that section 522(p)'s cap on homestead exemptions applied to the debtors, interpreted section 522(p) to apply not only to those states where debtors elected between a federal or state exemption but also to those states where debtors were allowed only a state exemption.
Procedural posture
Bankruptcy debtors claimed a homestead exemption under Nev. Rev. Stat. §§ 21.090.1(l) and 115.010.2, but the bankruptcy trustee asserted that the claimed exemption exceeded the statutory exemption cap set out in 11 U.S.C. § 522(p). The trustee objected to the exemption.
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Court
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