US Bankruptcy Apellate Panel Of The Ninth Circuit - Jack Jeffries v. Charles Carlson, Chapter 7 Trustee

Apr 30, 2012

OUTCOME: Affirmed the decision of the Bankruptcy Court, sustaining the Chapter 7 Trustee’s objection to the Debtor’s exemption

The homestead exemption was claimed for an “equalizing” judgment, secured by a promissory note and quit claim deed (“Note and Deed of Trust”), for the Debtor’s interest in real property awarded to his ... ex-wife, pursuant to a divorce decree, that was entered prior to the filing of his bankruptcy petition. After argument before the bankruptcy court the court sustained the trustee's objection to the debtor's claimed exemption. The debtor subsequently appealed this to the Ninth Circuit BAP