[CLBS] LLC-owned building and availability of the Idaho homestead exemption

[Tecla Druffel]

All:

Clients, who are husband and wife, are the only members of a LLC. The LLC
owns a building that clients live in. There is equity in the property, but
it is less than $100,000. Clients even went so far as to file a homestead
declaration on the building (before my time).

My question is this-- given that the LLC is the record owner of the
building, may the clients assert a valid homestead exemption in the
property? I spent some time researching it and came across *In Re Lavelle*,
350 B.R. 505, a 2005 decision by Judge Myers. I'm not feeling very
optimistic.

Has anyone litigated these types of issues more recently than 2005? I
welcome any insight or advice.

Thank you,
Tecla Druffel

Tecla Elizabeth Druffel, attorney at law

TED BK, PLLC

312 Main Street

P.O. Box 323

Lewiston, ID 83501

Ph: (208) 743-9569

Fax: 1-(888)-877-4307

tecla at lewistonbankruptcylawyer.com <tecla at qwestoffice.net>