[CLBS] reopening, homestead and appreciation

[Laura Burri]

List Mates - I represent a creditor that has a judgment lien that was not set aside in a chapter 7 bankruptcy filing. At the time the bankruptcy was filed, the homestead was $100,000 and the property had no equity over and above the mortgage and the homestead. The case was closed several years ago.

Debtor now wants to reopen the case to set aside the judgment lien under 522(f). My questions are:

Do all the original values / homestead amount still apply to a reopened case as set forth in the original schedules?
Or, can the debtor now assert the increased homestead exemption to $175,000 and the creditor assert the 2021 increased property value?

Appreciate your thoughts. Laura

Laura E. Burri
Attorney at Law
Morrow & Fischer, PLLC
332 N Broadmore Way, Ste 102
Nampa, Idaho 83687
Telephone: (208) 475-2200
Fax: (208) 475-2201
Email: lburri at morrowfischer.com<mailto:lburri at morrowfischer.com>