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§ 522(d)(5)

Lewandowski v. Lim (In re Lewandowski)

May
01
2008
Ruling
Bankruptcy court did not err in ordering sale of estate property subject to debtor's partial exemption.
Procedural posture

Appellant chapter 7 debtors challenged an order from a bankruptcy court, which authorized appellee trustee to sell an undeveloped parcel of land that had been exempted at a value of $7,500 under 11 U.S.C.S. § 522(d)(5).

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Consumer opinion summary, case decided on May 01, 2008 , LexisNexis #0608-006
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In re Cormier

Feb
14
2008
Ruling
Debtor were not entitled to exemption of entire sale value of stock auctioned by trustee.
Procedural posture

The debtors filed an objection to the completed sale by auction of their shareholder interest in a company that paid mineral royalties. The debtors had been the high bidders, at $47,000, for the stock, and had claimed a joint exemption for the stock in the amount of $ 14,150, pursuant to 11 U.S.C.S. § 522(d)(5). The debtors asserted the entire value of the stock should be exempt under the appellate panel decision in Olson v. Anderson.

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Consumer opinion summary, case decided on February 14, 2008 , LexisNexis #0308-130
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Brown v. Kaba (In re Kaba)

May
25
2007
Ruling
Debtors could not claim exemption in proceeds from sale of homestead transferred to son prior to petition date.
Procedural posture

Two months before filing for chapter 7 relief, debtors transferred the bulk of the proceeds from the sale of their homestead to defendant son in payment of an antecedent debt. They claimed an exemption for the amount of the payment under 11 U.S.C. § 522(d)(5), but plaintiff trustee objected and commenced an adversary proceeding to recover the payment as a preference.

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opinion summary, case decided on May 25, 2007 , LexisNexis #0707-025
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In re Brannon

Feb
07
2007
Ruling
Bankruptcy petition did not sever tenancy by the entireties so that trustee could not supersede one tenant's right to act on behalf of the other.
Procedural posture

In two chapter 7 bankruptcy cases, appellant debtors sought exemptions under 11 U.S.C. § 522(d)(5) for property held in tenancy by the entireties. The bankruptcy court sustained appellee trustees'objections to the exemption requests. The District Court for the Western District of Pennsylvania affirmed. The debtors appealed. The cases were consolidated for appeal.

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Court :
Judge or Jurisdiction information not available
opinion summary, case decided on February 07, 2007 , LexisNexis #0307-060
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Walsh v. Kelin (In re Kelin)

May
11
2006
Ruling
Debtor was entitled to a portion of proceeds from a lawsuit settlement as compensation for actual pecuniary losses but not as compensation for future earnings lost due to injuries.
Procedural posture

Pursuant to 11 U.S.C. § 522(d)(5), (d)(11)(D) and (d)(11)(E), debtor husband and wife claimed exemptions in a prepetition, personal, and pecuniary injury lawsuit brought by the wife. After the lawsuit was settled, movant chapter 7 trustee sought to determine how much of the settlement proceeds, if any, were to be distributed to debtors in accordance with their allowed exemptions.

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opinion summary, case decided on May 11, 2006 , LexisNexis #0606-016
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In re Victor

May
03
2006
Ruling
Court ruled trustee could liquidate a trailer owned as marital community property subject to debtor's claimed exemption in a one-half interest in the trailer.
Procedural posture

The matter came before the court on the trustee's objection to debtor's third amendment to change chapter 7 claim of exemptions.

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opinion summary, case decided on May 03, 2006 , LexisNexis #0606-017
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