[CLBS] Homeowners exemption

[Randal French]

To follow up on that response, the chapter 7 trustee May try to hold the proceeds so that it can keep them and if the exemption expires after one year from receipt of the proceeds, the trustee will then use the proceeds to pay creditors having allowed unsecured claims.

There are several decisions that address the use of homestead exemption proceeds from a sale that occurs after the chapter 7 is filed. You should look at those decisions. I don't recall specifically what cases those are, but you should be able to find them easily and your list mates will remember them much better than I do.

Randy French

Get Outlook for Android<https://aka.ms/ghei36>

________________________________
From: Randal French
Sent: Monday, April 15, 2019 5:37:52 PM
To: Bankruptcy list; Shawn Miller
Subject: Re: [CLBS] Homeowners exemption

I think you are better off to convert before the client sells, if you can.  If you sell first, there is an argument that your clients must reinvest the sales proceeds in a new homestead within one year or the homestead exemption ends.

Get Outlook for Android<https://aka.ms/ghei36>

________________________________
From: CLBS <clbs-bounces at admws.idaho.gov> on behalf of Shawn Miller <shawngmillerlaw at gmail.com>
Sent: Monday, April 15, 2019 2:01:49 PM
To: Bankruptcy list
Subject: [CLBS] Homeowners exemption

Listmates,

I have a chp 13 client with a motion to sell their house.  Once the house
is sold and their exemption is returned to them, can the case be converted
to a chapter 7 and still protect their property exemption?  Any help would
be appreciated.

--
Miller Law PLLC
6901 W. Emerald St. Ste 203
Boise, ID 83704
Phone: 208-901-1647
Fax:208-906-8667
Email:  shawngmillerlaw at gmail.com

*ATTENTION*:  This email and any attachments are intended for the addressee
only and may contain legally privileged or confidential information.  If
you are not the intended recipient of this email, disregard and delete it
immediately.  Any unauthorized use or dissemination  is strictly
prohibited.  If you have received this message in error please contact the
sender at the email address provided above.
_______________________________________________
CLBS mailing list
CLBS at admws.idaho.gov
http://admws.idaho.gov/mailman/listinfo/clbs