- 11 U.S.C.
In re Greene
Jul
27
2006
Ruling
Debtor's homestead exemption was capped at $125,000 pursuant to section 522(p)(1).
Procedural posture
Debtor filed a chapter 7 bankruptcy petition, claiming a parcel of undeveloped land with a travel trailer as his homestead exemption under Nev. Rev. Stat. §§ 115.005(2) and 115.010. A creditor objected to the claim of exemption and argued that even if valid, the exempted amount had to be reduced to $125,000 pursuant to 11 U.S.C. § 522(p)(1) because the homestead was an interest acquired within 1,215 days of the petition.
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Court
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